Onsemi (NASDAQ:ON) Price Target Lowered to $55.00 at KeyCorp

Onsemi (NASDAQ:ON) had its price objective cut by KeyCorp from $60.00 to $55.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other equities analysts also recently issued reports on ON. Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. Roth Mkm cut their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Citigroup lowered their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Susquehanna cut their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus lowered their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Two equities 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.92.

Onsemi Trading Down 8.9 %

NASDAQ ON opened at $31.95 on Tuesday. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a 50 day moving average price of $45.95 and a 200 day moving average price of $59.27. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market cap of $13.48 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. As a group, sell-side analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Trading of Onsemi

A number of institutional investors and hedge funds have recently made changes to their positions in ON. Norges Bank acquired a new position in shares of Onsemi during the 4th quarter worth about $378,312,000. Janus Henderson Group PLC increased its stake in Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after buying an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Onsemi in the fourth quarter valued at approximately $62,426,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Onsemi by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after acquiring an additional 771,610 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other 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.