Onsemi (NASDAQ:ON - Get Free Report) had its target price reduced by stock analysts at KeyCorp from $90.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the semiconductor company's stock. KeyCorp's price target points to a potential upside of 26.86% from the stock's previous close.
Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $87.00 price objective on shares of Onsemi in a report on Tuesday, November 19th. Benchmark reaffirmed a "buy" rating and issued a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. StockNews.com raised shares of Onsemi from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Onsemi from $92.00 to $77.00 and set a "buy" rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi has an average rating of "Moderate Buy" and an average price target of $83.35.
Read Our Latest Stock Report on ON
Onsemi Price Performance
Shares of NASDAQ:ON traded down $0.69 during trading on Tuesday, reaching $55.18. The company had a trading volume of 6,345,962 shares, compared to its average volume of 10,250,721. Onsemi has a 12 month low of $53.10 and a 12 month high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $23.50 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. The company has a fifty day moving average of $66.59 and a two-hundred day moving average of $70.20.
Onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi's revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Equities research analysts forecast that Onsemi will post 4 earnings per share for the current year.
Insider Activity at Onsemi
In related news, CEO Hassane El-Khoury sold 1,500 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Onsemi
Several large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Onsemi by 20.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company's stock worth $274,000 after purchasing an additional 722 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Onsemi by 14.8% in the fourth quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company's stock worth $599,000 after buying an additional 1,221 shares during the period. Oak Thistle LLC purchased a new position in Onsemi during the 4th quarter valued at $515,000. Bar Harbor Wealth Management grew its position in Onsemi by 5.7% in the 4th quarter. Bar Harbor Wealth Management now owns 33,987 shares of the semiconductor company's stock valued at $2,143,000 after acquiring an additional 1,845 shares during the last quarter. Finally, Czech National Bank increased its stake in Onsemi by 5.8% in the fourth quarter. Czech National Bank now owns 92,322 shares of the semiconductor company's stock worth $5,821,000 after purchasing an additional 5,062 shares during the period. Institutional investors own 97.70% of the company's stock.
About Onsemi
(
Get Free Report)
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.
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