Onsemi (NASDAQ:ON) PT Lowered to $55.00 at BNP Paribas

Onsemi (NASDAQ:ON) had its price objective reduced by BNP Paribas from $60.00 to $55.00 in a report issued on Friday morning.

Other analysts have also recently issued reports about the stock. Morgan Stanley cut shares of Onsemi from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. Bank of America boosted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. KeyCorp lowered their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, Truist Financial increased their price objective on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.43.

Onsemi Stock Up 4.8 %

Shares of ON traded up $3.41 during midday trading on Friday, hitting $74.66. 8,422,238 shares of the company’s stock traded hands, compared to its average volume of 6,734,156. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The firm’s fifty day moving average is $71.63 and its 200-day moving average is $71.41. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $32.12 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 3.57 and a beta of 1.65.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $1.33 earnings per share. The company’s quarterly revenue was down 17.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Insider Activity at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,939 shares of company stock worth $2,626,651 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. boosted its stake in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC purchased a new stake in Onsemi in the second quarter valued at approximately $43,000. Finally, Fidelis Capital Partners LLC acquired a new position in Onsemi during the first quarter worth $45,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.