Onsemi (NASDAQ:ON) Given New $70.00 Price Target at KeyCorp

Onsemi (NASDAQ:ON) had its price objective dropped by equities researchers at KeyCorp from $90.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price indicates a potential upside of 26.74% from the stock’s previous close.

A number of other analysts also recently issued reports on ON. Roth Mkm reaffirmed a “buy” rating and set a $100.00 price target on shares of Onsemi in a report on Thursday, December 12th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Truist Financial restated a “hold” rating and issued a $60.00 target price (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Finally, Mizuho set a $85.00 price target on shares of Onsemi in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.35.

Onsemi Stock Up 0.1 %

ON stock opened at $55.23 on Tuesday. Onsemi has a fifty-two week low of $53.10 and a fifty-two week high of $85.16. The company’s 50 day moving average price is $66.29 and its 200 day moving average price is $70.11. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 7.07 and a beta of 1.64.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. On average, equities research analysts anticipate that Onsemi will post 4 EPS 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 company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value 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. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onsemi

A number of large investors have recently added to or reduced their stakes in ON. Federated Hermes Inc. raised its position in Onsemi by 408.2% during the second quarter. Federated Hermes Inc. now owns 144,383 shares of the semiconductor company’s stock worth $9,897,000 after acquiring an additional 115,972 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Onsemi by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 602,796 shares of the semiconductor company’s stock valued at $41,322,000 after buying an additional 21,700 shares in the last quarter. Argent Trust Co increased its position in Onsemi by 9.9% during the second quarter. Argent Trust Co now owns 3,651 shares of the semiconductor company’s stock worth $250,000 after buying an additional 328 shares in the last quarter. Finally, Tredje AP fonden raised its holdings in shares of Onsemi by 320.5% in the second quarter. Tredje AP fonden now owns 67,185 shares of the semiconductor company’s stock worth $4,606,000 after acquiring an additional 51,207 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.