Craig Hallum Lowers Onsemi (NASDAQ:ON) Price Target to $50.00

Onsemi (NASDAQ:ON) had its price target cut by investment analysts at Craig Hallum from $78.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Craig Hallum’s target price would indicate a potential downside of 0.12% from the company’s current price.

A number of other brokerages also recently weighed in on ON. Benchmark reissued a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Jefferies Financial Group dropped their price target on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday. TD Cowen reduced their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. KeyCorp reduced their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Needham & Company LLC lowered their price target on shares of Onsemi from $66.00 to $57.00 and set a “buy” rating on the stock in a report on Monday. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Stock Up 4.4 %

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

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

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of hedge funds and other institutional investors have recently bought and sold shares of ON. Norges Bank acquired a new position in Onsemi during the 4th quarter worth about $378,312,000. Bridgewater Associates LP lifted its stake in shares of Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after acquiring an additional 1,109,778 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Van ECK Associates Corp increased its position in Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after purchasing an additional 344,354 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

About Onsemi

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.