Susquehanna Cuts Onsemi (NASDAQ:ON) Price Target to $85.00

Onsemi (NASDAQ:ON) had its price objective lowered by Susquehanna from $90.00 to $85.00 in a research note published on Tuesday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial decreased their price objective on shares of Onsemi from $94.00 to $89.00 and set a buy rating for the company in a report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on Onsemi from $95.00 to $90.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. KeyCorp boosted their target price on Onsemi from $95.00 to $100.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. BNP Paribas reiterated an underperform rating and set a $55.00 price target on shares of Onsemi in a report on Friday, April 19th. Finally, Stifel Nicolaus reduced their price objective on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $90.24.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $70.37 on Tuesday. Onsemi has a one year low of $59.34 and a one year high of $111.35. The business’s 50-day moving average price is $72.35 and its two-hundred day moving average price is $74.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. The company has a market capitalization of $30.28 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 3.12 and a beta of 1.78.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating 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 28.86% and a net margin of 26.67%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 EPS. Analysts anticipate that Onsemi will post 3.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after acquiring an additional 321,682 shares in the last quarter. Capital World Investors acquired a new stake in shares of Onsemi during the 4th quarter worth about $697,276,000. Invesco Ltd. increased its position in shares of Onsemi by 26.0% during the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after purchasing an additional 1,200,723 shares in the last quarter. Norges Bank bought a new position in Onsemi during the 4th quarter valued at about $418,102,000. Finally, Ameriprise Financial Inc. boosted its position in Onsemi by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after buying an additional 817,237 shares in the last quarter. 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.