JPMorgan Chase & Co. Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $88.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 19.86% from the company’s current price.

ON has been the topic of a number of other research reports. Robert W. Baird upped their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC dropped their price objective on shares of Onsemi from $66.00 to $57.00 and set a “buy” rating on the stock in a report on Monday. Loop Capital started coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. KeyCorp lowered their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their price target on Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Trading Up 4.4 %

Shares of Onsemi stock opened at $50.06 on Tuesday. The firm’s 50 day simple moving average is $59.30 and its two-hundred day simple moving average is $67.06. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 10.27 and a beta of 1.61. Onsemi has a 12-month low of $46.57 and a 12-month high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Analysts predict that Onsemi will post 3.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Onsemi

A number of institutional investors and hedge funds have recently bought and sold shares of ON. Greenleaf Trust grew its holdings in Onsemi by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares in the last quarter. Meridian Financial Partners LLC boosted its position in shares of Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after acquiring an additional 192 shares during the last quarter. Truvestments Capital LLC grew its holdings in shares of Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 207 shares during the period. Sentry Investment Management LLC increased its position in Onsemi by 3.0% during the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 209 shares during the last quarter. Finally, CX Institutional raised its stake in Onsemi by 5.2% during the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after purchasing an additional 232 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.