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

Onsemi (NASDAQ:ON) had its price objective reduced by Citigroup from $77.00 to $52.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the company. Needham & Company LLC decreased their price objective on Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a report on Monday. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. KeyCorp cut their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Mizuho set a $85.00 price objective on Onsemi in a research report on Friday, October 18th. Finally, Jefferies Financial Group dropped their price target on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday. 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 presently 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. The company has a market cap of $20.41 billion, a P/E ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. The stock has a 50 day simple moving average of $59.62 and a two-hundred day simple moving average of $67.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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%. Research analysts forecast that Onsemi will post 3.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the 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 transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Onsemi during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Onsemi during the 3rd quarter valued at about $33,000. GHP Investment Advisors Inc. increased 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 valued at $38,000 after purchasing an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Onsemi during the 3rd quarter valued at about $43,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Onsemi during the 4th quarter valued at about $41,000. 97.70% of the stock is currently 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.