Onsemi (NASDAQ:ON) PT Lowered to $63.00

Onsemi (NASDAQ:ON) had its price target dropped by Morgan Stanley from $66.00 to $63.00 in a research note issued on Friday. Morgan Stanley’s target price would suggest a potential downside of 15.96% from the company’s previous close.

Several other brokerages have also recently issued reports on ON. TD Cowen dropped their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday. Roth Mkm increased their price target on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. BNP Paribas lowered their price objective on Onsemi from $60.00 to $55.00 in a research note on Friday. Truist Financial raised their target price on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Susquehanna boosted their price target on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.43.

Onsemi Price Performance

Shares of Onsemi stock traded up $3.71 during mid-day trading on Friday, reaching $74.96. 9,108,917 shares of the stock traded hands, compared to its average volume of 6,734,156. The stock has a market capitalization of $32.25 billion, a PE ratio of 15.08, a PEG ratio of 3.57 and a beta of 1.65. The business has a 50-day moving average of $71.63 and a 200 day moving average of $71.41. 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.

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

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated 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 directly owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,939 shares of company stock worth $2,626,651. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of large investors have recently modified their holdings of ON. GHP Investment Advisors Inc. lifted its position in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the last quarter. Westside Investment Management Inc. raised its stake in Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Onsemi during the 2nd quarter worth about $43,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Onsemi in the 1st quarter valued at about $45,000. 97.70% of the stock is 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.