Onsemi (NASDAQ:ON) Price Target Cut to $70.00 by Analysts at Rosenblatt Securities

Onsemi (NASDAQ:ON) had its price target lowered by Rosenblatt Securities from $75.00 to $70.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Rosenblatt Securities’ price target would suggest a potential downside of 1.16% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Morgan Stanley decreased their price objective on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Susquehanna reissued a “positive” rating and set a $90.00 price objective on shares of Onsemi in a report on Monday, April 8th. JPMorgan Chase & Co. cut their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Stifel Nicolaus cut their price objective on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Finally, BNP Paribas reissued an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.48.

Onsemi Trading Up 4.1 %

Shares of Onsemi stock opened at $70.82 on Tuesday. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The firm has a market cap of $30.44 billion, a PE ratio of 14.48, a P/E/G ratio of 6.71 and a beta of 1.80. The stock has a fifty day moving average price of $73.11 and a 200-day moving average price of $75.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $1.19 EPS. The business’s revenue was down 4.9% compared to the same quarter last year. Equities research analysts anticipate that Onsemi will post 4.26 EPS for the current year.

Institutional Trading of Onsemi

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its holdings in shares of Onsemi by 199.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock valued at $378,000 after acquiring an additional 2,707 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Onsemi by 16.3% during the third quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 410 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Onsemi by 9.5% during the third quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock valued at $5,082,000 after acquiring an additional 4,741 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Onsemi by 7.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock valued at $4,546,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Balboa Wealth Partners bought a new position in shares of Onsemi during the third quarter valued at approximately $212,000. 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.