Citigroup Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective dropped by research analysts at Citigroup from $52.00 to $40.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price target points to a potential upside of 14.03% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut 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, February 11th. The Goldman Sachs Group cut their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Onsemi in a report on Monday, March 3rd. Roth Mkm cut their price target on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Benchmark decreased their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.46.

Onsemi Trading Up 0.6 %

Shares of NASDAQ:ON traded up $0.20 during mid-day trading on Friday, reaching $35.08. 19,746,730 shares of the company were exchanged, compared to its average volume of 7,462,212. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 16.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08. The firm’s 50-day simple moving average is $45.10 and its 200 day simple moving average is $58.67.

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

Hedge Funds Weigh In On Onsemi

Several hedge funds have recently added to or reduced their stakes in ON. Truvestments Capital LLC lifted its position in shares of Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 207 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Onsemi by 0.3% in the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock valued at $4,949,000 after purchasing an additional 235 shares during the last quarter. V Square Quantitative Management LLC grew its position in Onsemi by 3.9% during the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock valued at $424,000 after acquiring an additional 252 shares during the period. Huntington National Bank increased its position in shares of Onsemi by 8.9% in the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock worth $209,000 after acquiring an additional 271 shares in the last quarter. Finally, Elequin Capital LP increased its holdings in Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares in 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.