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

Onsemi (NASDAQ:ON - Get Free Report) had its price objective reduced by analysts at The Goldman Sachs Group from $77.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. The Goldman Sachs Group's target price would suggest a potential upside of 23.53% from the stock's current price.

Other analysts also recently issued research reports about the stock. Craig Hallum decreased their price objective on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday. TD Cowen decreased their price objective on shares of Onsemi from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Wells Fargo & Company decreased their price objective on shares of Onsemi from $85.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Jefferies Financial Group decreased their price objective on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Monday. Finally, B. Riley decreased their price objective on shares of Onsemi from $90.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Onsemi has a consensus rating of "Moderate Buy" and a consensus target price of $68.16.

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Onsemi Stock Performance

Shares of NASDAQ:ON traded up $0.89 during midday trading on Tuesday, hitting $51.81. The stock had a trading volume of 3,859,918 shares, compared to its average volume of 9,296,862. The company has a market capitalization of $22.06 billion, a PE ratio of 12.87, a P/E/G ratio of 10.27 and a beta of 1.61. The stock has a 50 day moving average price of $59.01 and a two-hundred day moving average price of $66.95. 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 has a 1 year low of $46.57 and a 1 year high of $85.16.

Onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. As a group, equities analysts predict that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares of the company's stock, valued at approximately $59,477,410. This represents 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. Company insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock worth $3,224,081,000 after purchasing an additional 344,354 shares during the last quarter. Geode Capital Management LLC increased its position in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company's stock worth $767,646,000 after purchasing an additional 309,445 shares during the last quarter. Norges Bank acquired a new position in Onsemi during the fourth quarter worth approximately $378,312,000. Dimensional Fund Advisors LP increased its position in Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after purchasing an additional 771,610 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Onsemi by 0.7% in the fourth quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company's stock worth $265,737,000 after acquiring an additional 31,365 shares in the last quarter. Institutional investors and hedge funds 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.