Onsemi (NASDAQ:ON) Given New $55.00 Price Target at BNP Paribas

Onsemi (NASDAQ:ON) had its price objective reduced by investment analysts at BNP Paribas from $60.00 to $55.00 in a research report issued on Friday. BNP Paribas’ price objective suggests a potential downside of 25.55% from the stock’s previous close.

Several other equities analysts also recently commented on the company. KeyCorp dropped their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Roth Mkm increased their target price on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Citigroup downgraded Onsemi from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $77.00 in a research report on Monday, July 15th. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Finally, Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. Three 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 “Hold” and an average price target of $85.43.

Onsemi Price Performance

Shares of ON traded up $2.63 during trading hours on Friday, hitting $73.88. 7,448,719 shares of the company were exchanged, compared to its average volume of 6,729,476. The company has a market cap of $31.79 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 3.57 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $71.63 and its 200 day moving average is $71.41.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data 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 return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $1.33 EPS. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, equities analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now directly 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 SEC, which is available through the SEC website. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now directly 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 SEC, which is available through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT grew its position in Onsemi by 23.1% during the third quarter. Iridian Asset Management LLC CT now owns 90,709 shares of the semiconductor company’s stock worth $6,586,000 after buying an additional 17,020 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Onsemi by 4.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,996 shares of the semiconductor company’s stock worth $1,016,000 after purchasing an additional 609 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Onsemi by 110.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,433 shares of the semiconductor company’s stock worth $394,000 after purchasing an additional 2,846 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Onsemi by 24.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 42,028 shares of the semiconductor company’s stock worth $3,052,000 after purchasing an additional 8,182 shares in the last quarter. Finally, Custom Index Systems LLC boosted its holdings in shares of Onsemi by 5.9% in the 3rd quarter. Custom Index Systems LLC now owns 7,633 shares of the semiconductor company’s stock worth $554,000 after purchasing an additional 425 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.