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

Onsemi (NASDAQ:ON) had its price target decreased by analysts at KeyCorp from $100.00 to $90.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would suggest a potential upside of 27.08% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Rosenblatt Securities dropped their target price on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley cut their price objective on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. BNP Paribas restated an “underperform” rating and issued a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Finally, Susquehanna reduced their price target on Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.00.

Onsemi Stock Up 4.1 %

Shares of NASDAQ ON opened at $70.82 on Tuesday. The firm’s fifty day moving average is $73.11 and its 200 day moving average is $75.28. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 6.71 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. On average, equities research analysts expect that Onsemi will post 4.26 earnings per share for the current year.

Institutional Investors Weigh In On Onsemi

A number of hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC lifted its holdings in Onsemi by 28.7% during the first quarter. Perigon Wealth Management LLC now owns 3,170 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 707 shares in the last quarter. Greenleaf Trust raised its position in shares of Onsemi by 4.4% during the 1st quarter. Greenleaf Trust now owns 5,331 shares of the semiconductor company’s stock valued at $392,000 after purchasing an additional 226 shares during the period. Guild Investment Management Inc. lifted its stake in shares of Onsemi by 191.8% during the 1st quarter. Guild Investment Management Inc. now owns 23,065 shares of the semiconductor company’s stock valued at $1,696,000 after buying an additional 15,160 shares in the last quarter. MONECO Advisors LLC increased its stake in Onsemi by 6.5% in the 1st quarter. MONECO Advisors LLC now owns 16,138 shares of the semiconductor company’s stock worth $1,187,000 after buying an additional 980 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC raised its holdings in Onsemi by 28.7% during the first quarter. Villere ST Denis J & Co. LLC now owns 435,936 shares of the semiconductor company’s stock valued at $32,063,000 after acquiring an additional 97,191 shares during the period. Institutional investors own 97.70% of the company’s stock.

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.