B. Riley Cuts Onsemi (NASDAQ:ON) Price Target to $90.00

Onsemi (NASDAQ:ON) had its price target dropped by research analysts at B. Riley from $100.00 to $90.00 in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price points to a potential upside of 59.97% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. BNP Paribas lowered their price objective on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. TD Cowen dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley raised their price target on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.70.

Onsemi Price Performance

Shares of ON opened at $56.26 on Friday. The stock has a fifty day moving average price of $64.20 and a 200 day moving average price of $69.31. The company has a market cap of $23.96 billion, a P/E ratio of 13.96, a PEG ratio of 10.62 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a 12 month low of $53.10 and a 12 month high of $85.16.

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

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onsemi

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its position in Onsemi by 27.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,929 shares of the semiconductor company’s stock worth $437,000 after buying an additional 1,496 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in shares of Onsemi by 6.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock worth $275,000 after purchasing an additional 282 shares in the last quarter. Mediolanum International Funds Ltd increased its position in shares of Onsemi by 2.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 88,261 shares of the semiconductor company’s stock valued at $5,587,000 after purchasing an additional 2,100 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Onsemi in the fourth quarter valued at $51,000. Finally, Ibex Wealth Advisors bought a new position in Onsemi in the fourth quarter worth $316,000. Institutional investors and hedge funds 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.