The Goldman Sachs Group Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its target price cut by The Goldman Sachs Group from $92.00 to $77.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on ON. Robert W. Baird increased their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Roth Mkm reissued a “buy” rating and set a $100.00 target price on shares of Onsemi in a research note on Thursday, December 12th. Loop Capital assumed coverage on shares of Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 price target on the stock. Mizuho set a $85.00 price target on Onsemi in a report on Friday, October 18th. Finally, Benchmark restated a “buy” rating and set a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.43.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $53.94 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 52 week low of $53.60 and a 52 week high of $85.16. The firm has a market cap of $22.97 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. The firm’s fifty day moving average is $67.20 and its 200-day moving average is $70.35.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. Sell-side analysts predict that Onsemi will post 4 earnings per share for the current year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. This trade 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 available at this link. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Several institutional investors and hedge funds have recently added to or reduced their stakes in ON. Geode Capital Management LLC boosted its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after acquiring an additional 665,633 shares during the last quarter. Van ECK Associates Corp grew its position in shares of 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 acquiring an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after purchasing an additional 31,889 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.