Onsemi (NASDAQ:ON) Price Target Lowered to $52.00 at Citigroup

Onsemi (NASDAQ:ON) had its price objective cut by investment analysts at Citigroup from $77.00 to $52.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price target points to a potential upside of 10.54% from the stock’s previous close.

Several other research analysts have also weighed in on the company. B. Riley dropped their price target on Onsemi from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. UBS Group reduced their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Truist Financial reaffirmed a “hold” rating and set a $60.00 price objective (down from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Wells Fargo & Company cut their target price on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, TD Cowen lowered their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Onsemi Price Performance

ON stock opened at $47.04 on Tuesday. Onsemi has a one year low of $46.57 and a one year high of $85.16. The firm has a 50-day moving average of $60.06 and a two-hundred day moving average of $67.34. The firm has a market capitalization of $20.03 billion, a PE ratio of 11.67, a P/E/G ratio of 10.27 and a beta of 1.62. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, analysts forecast that Onsemi will post 3.99 earnings per share for the current year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new position in shares of Onsemi during the third quarter valued at $33,000. GHP Investment Advisors Inc. boosted its stake in shares of Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Onsemi in the 4th quarter worth about $41,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of Onsemi during the 3rd quarter worth about $43,000. 97.70% of the stock is owned by 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.