Craig Hallum Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its target price reduced by research analysts at Craig Hallum from $78.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. Craig Hallum’s price target would suggest a potential downside of 0.12% from the stock’s previous close.

A number of other research analysts have also weighed in on ON. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Friday, February 7th. Morgan Stanley cut their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group decreased their price target on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. Loop Capital started coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Needham & Company LLC reduced their price objective on Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a research note on Monday. Two 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’s stock. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.16.

Onsemi Price Performance

Shares of ON opened at $50.06 on Tuesday. The business’s fifty day moving average is $59.30 and its 200 day moving average is $67.06. Onsemi has a 12-month low of $46.57 and a 12-month high of $85.16. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $21.32 billion, a P/E ratio of 12.42, a P/E/G ratio of 10.27 and a beta of 1.61.

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 return on equity of 22.38% and a net margin of 23.80%. Sell-side analysts anticipate that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Onsemi

Large investors have recently added to or reduced their stakes in the business. Greenleaf Trust boosted its stake in shares of Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares during the period. Meridian Financial Partners LLC boosted its position in Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after buying an additional 192 shares during the period. Truvestments Capital LLC grew its holdings in Onsemi by 3.8% in the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 207 shares during the last quarter. Sentry Investment Management LLC increased its position in shares of Onsemi by 3.0% in the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 209 shares during the period. Finally, CX Institutional raised its stake in shares of Onsemi by 5.2% during the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors 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.