KeyCorp Cuts Onsemi (NASDAQ:ON) Price Target to $90.00

Onsemi (NASDAQ:ON - Get Free Report) had its target price cut by analysts at KeyCorp from $95.00 to $90.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the semiconductor company's stock. KeyCorp's price target indicates a potential upside of 27.61% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Susquehanna boosted their target price on Onsemi from $85.00 to $95.00 and gave the company a "positive" rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. boosted their target price on Onsemi from $85.00 to $88.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Rosenblatt Securities upped their price target on Onsemi from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Bank of America upped their price target on Onsemi from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Finally, TD Cowen upped their price target on Onsemi from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Onsemi currently has a consensus rating of "Hold" and a consensus price target of $85.83.

Onsemi Trading Down 0.8 %

ON stock traded down $0.56 during midday trading on Tuesday, hitting $70.53. The company had a trading volume of 3,778,514 shares, compared to its average volume of 6,726,302. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Onsemi has a 52 week low of $59.34 and a 52 week high of $95.59. The stock's 50 day moving average price is $72.26 and its 200 day moving average price is $71.63. The stock has a market cap of $30.21 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 3.84 and a beta of 1.65.

Onsemi (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The business's revenue was down 17.2% on a year-over-year basis. As a group, equities research analysts expect that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Simon Keeton sold 30,939 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company's stock, valued at $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company's stock, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ON. Tealwood Asset Management Inc. increased its position in Onsemi by 2.2% in the third quarter. Tealwood Asset Management Inc. now owns 17,155 shares of the semiconductor company's stock worth $1,246,000 after buying an additional 363 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in Onsemi by 4.5% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company's stock worth $350,000 after buying an additional 206 shares in the last quarter. Atwood & Palmer Inc. increased its position in Onsemi by 2.0% in the third quarter. Atwood & Palmer Inc. now owns 279,656 shares of the semiconductor company's stock worth $20,306,000 after buying an additional 5,566 shares in the last quarter. Mather Group LLC. increased its position in Onsemi by 23.3% in the third quarter. Mather Group LLC. now owns 4,155 shares of the semiconductor company's stock worth $302,000 after buying an additional 784 shares in the last quarter. Finally, Fulton Bank N.A. purchased a new stake in Onsemi in the third quarter worth about $209,000. Institutional investors own 97.70% of the company's stock.

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.