The Goldman Sachs Group Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON - Get Free Report) had its price target dropped by analysts at The Goldman Sachs Group from $92.00 to $77.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. The Goldman Sachs Group's price objective points to a potential upside of 42.75% from the stock's current price.

Several other research firms have also recently issued reports on ON. Rosenblatt Securities reiterated a "neutral" rating and set a $75.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Wells Fargo & Company began coverage on shares of Onsemi in a research note on Friday, November 22nd. They issued an "overweight" rating and a $85.00 price target on the stock. StockNews.com upgraded Onsemi from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Loop Capital began coverage on Onsemi in a research report on Monday, November 11th. They issued a "buy" rating and a $95.00 target price on the stock. Finally, TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a "buy" rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $84.43.

Onsemi Stock Performance

ON stock traded down $4.37 during midday trading on Friday, reaching $53.94. 17,555,131 shares of the company's stock traded hands, compared to its average volume of 10,576,359. The stock's 50-day moving average is $67.20 and its 200 day moving average is $70.35. The stock has a market cap of $22.97 billion, a P/E ratio of 13.38, a PEG ratio of 7.07 and a beta of 1.64. Onsemi has a 52-week low of $53.60 and a 52-week 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.

Onsemi (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. As a group, analysts anticipate that Onsemi will post 4 EPS for the current year.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onsemi

Several institutional investors have recently bought and sold shares of ON. Davis Investment Partners LLC raised its stake in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company's stock worth $1,224,000 after purchasing an additional 142 shares during the last quarter. Greenleaf Trust raised its position in Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company's stock worth $382,000 after buying an additional 173 shares during the last quarter. Meridian Financial Partners LLC lifted its stake in Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company's stock valued at $821,000 after acquiring an additional 192 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in shares of Onsemi by 4.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company's stock valued at $350,000 after acquiring an additional 206 shares during the last quarter. Finally, Sentry Investment Management LLC increased its stake in shares of Onsemi by 3.0% in the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company's stock worth $521,000 after acquiring an additional 209 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.