Morgan Stanley Cuts Onsemi (NASDAQ:ON) Price Target to $70.00

Onsemi (NASDAQ:ON) had its target price reduced by Morgan Stanley from $80.00 to $70.00 in a research report report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on ON. Mizuho decreased their price target on shares of Onsemi from $98.00 to $92.00 and set a buy rating for the company in a report on Tuesday, February 6th. Roth Mkm boosted their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a buy rating in a report on Tuesday, February 6th. Stifel Nicolaus decreased their price target on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a report on Thursday, April 18th. JPMorgan Chase & Co. decreased their price target on shares of Onsemi from $95.00 to $90.00 and set a neutral rating for the company in a report on Tuesday, February 6th. Finally, Truist Financial decreased their price target on shares of Onsemi from $94.00 to $89.00 and set a buy rating for the company in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi presently has an average rating of Moderate Buy and a consensus target price of $95.28.

Onsemi Price Performance

ON opened at $66.38 on Monday. The company has a fifty day moving average price of $73.60 and a two-hundred day moving average price of $75.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The firm has a market capitalization of $28.53 billion, a PE ratio of 13.57, a P/E/G ratio of 6.40 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the business earned $1.32 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Onsemi will post 4.3 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

A number of large investors have recently modified their holdings of the business. MONECO Advisors LLC lifted its stake in Onsemi by 6.5% in the 1st quarter. MONECO Advisors LLC now owns 16,138 shares of the semiconductor company’s stock valued at $1,187,000 after purchasing an additional 980 shares during the last quarter. Villere ST Denis J & Co. LLC lifted its stake in Onsemi by 28.7% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 435,936 shares of the semiconductor company’s stock valued at $32,063,000 after purchasing an additional 97,191 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in Onsemi by 75.2% in the 1st quarter. Carmel Capital Partners LLC now owns 15,854 shares of the semiconductor company’s stock valued at $1,166,000 after purchasing an additional 6,804 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Onsemi by 2,303.1% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 60,414 shares of the semiconductor company’s stock valued at $4,444,000 after purchasing an additional 57,900 shares during the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in Onsemi in the 1st quarter valued at about $213,000. 97.70% of the stock is currently 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.