Onsemi (NASDAQ:ON) PT Lowered to $85.00

Onsemi (NASDAQ:ON) had its target price decreased by research analysts at TD Cowen from $90.00 to $85.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective points to a potential upside of 13.39% from the stock’s current price.

Several other research analysts also recently commented on ON. Deutsche Bank Aktiengesellschaft raised their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. KeyCorp lowered their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. Finally, Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $77.00 in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.43.

Onsemi Stock Performance

Shares of NASDAQ:ON traded up $3.71 during trading on Friday, hitting $74.96. The company’s stock had a trading volume of 9,108,917 shares, compared to its average volume of 6,734,156. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The firm has a market cap of $32.25 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 3.57 and a beta of 1.65. The company has a 50-day moving average of $71.63 and a 200-day moving average of $71.41. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company posted $1.33 EPS. The company’s revenue was down 17.2% compared to the same quarter last year. On average, sell-side analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. The trade was a 0.00 % 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. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Onsemi

A number of large investors have recently made changes to their positions in the stock. Mediolanum International Funds Ltd purchased a new stake in shares of Onsemi in the first quarter valued at approximately $2,447,000. Assenagon Asset Management S.A. grew its position in shares of Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after buying an additional 88,496 shares in the last quarter. Norden Group LLC purchased a new position in shares of Onsemi during the first quarter valued at $774,000. Axxcess Wealth Management LLC bought a new stake in shares of Onsemi in the first quarter valued at about $808,000. Finally, Meeder Asset Management Inc. lifted its stake in Onsemi by 42.9% in the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock worth $1,914,000 after acquiring an additional 7,820 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.