Onsemi (NASDAQ:ON) Price Target Lowered to $73.00 at B. Riley

Onsemi (NASDAQ:ON) had its price objective cut by B. Riley from $90.00 to $73.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also issued reports on ON. Morgan Stanley lowered their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday. 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. Loop Capital assumed coverage on shares of Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Mizuho reduced their target price on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Onsemi Trading Up 1.9 %

Shares of ON stock opened at $47.93 on Tuesday. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16. The firm’s fifty day simple moving average is $59.62 and its 200 day simple moving average is $67.18. The firm has a market capitalization of $20.41 billion, a P/E ratio of 11.89, a price-to-earnings-growth 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 announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (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%. As a group, sell-side analysts predict that Onsemi will post 3.99 EPS for the current year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB increased its stake in shares of Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after acquiring an additional 82,614 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after acquiring an additional 18,450 shares during the last quarter. Cinctive Capital Management LP bought a new stake in Onsemi during the 3rd quarter worth approximately $1,270,000. Blue Trust Inc. increased its stake in Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in Onsemi during the 4th quarter worth approximately $515,000. 97.70% of the stock is owned by institutional investors.

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.