Morgan Stanley Cuts Onsemi (NASDAQ:ON) Price Target to $44.00

Onsemi (NASDAQ:ON) had its price target cut by stock analysts at Morgan Stanley from $52.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price indicates a potential downside of 12.11% from the stock’s current price.

ON has been the topic of a number of other reports. Roth Mkm reissued a “buy” rating and set a $100.00 price target on shares of Onsemi in a report on Thursday, December 12th. KeyCorp dropped their price target on shares of 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 shares of Onsemi in a report on Friday, October 18th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Loop Capital assumed coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.16.

Onsemi Trading Up 4.4 %

Onsemi stock opened at $50.06 on Tuesday. The firm has a 50-day moving average price of $59.30 and a two-hundred day moving average price of $67.06. Onsemi has a 52-week low of $46.57 and a 52-week high of $85.16. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 10.27 and a beta of 1.61. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data 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 expect 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 company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $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 is available at this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ON. Greenleaf Trust boosted its stake in shares of Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares during the period. Meridian Financial Partners LLC raised its holdings in shares of Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after acquiring an additional 192 shares in the last quarter. Truvestments Capital LLC boosted its position in Onsemi by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 207 shares during the last quarter. Sentry Investment Management LLC grew its stake in 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 purchasing an additional 209 shares in the last quarter. Finally, CX Institutional grew its stake in Onsemi by 5.2% in the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 232 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other 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.