The Goldman Sachs Group Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price target reduced by analysts at The Goldman Sachs Group from $92.00 to $77.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 42.38% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley increased their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. KeyCorp cut their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Benchmark restated a “buy” rating and issued a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. BNP Paribas lowered their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, Truist Financial reissued a “hold” rating and set a $60.00 price objective (down previously from $85.00) on shares of Onsemi in a research report on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $84.43.

Onsemi Price Performance

Shares of NASDAQ ON traded down $4.23 during mid-day trading on Friday, reaching $54.08. The company’s stock had a trading volume of 8,079,115 shares, compared to its average volume of 8,838,477. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 1-year low of $53.60 and a 1-year high of $85.16. The stock has a 50-day moving average of $67.20 and a two-hundred day moving average of $70.35. The stock has a market capitalization of $23.03 billion, a P/E ratio of 13.42, a P/E/G ratio of 7.07 and a beta of 1.64.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue was down 19.2% compared to the same quarter last year. On average, equities research analysts anticipate that Onsemi will post 4 EPS for the current fiscal year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ON. Los Angeles Capital Management LLC acquired a new stake in Onsemi in the 2nd quarter worth approximately $364,000. Acadian Asset Management LLC acquired a new position in shares of Onsemi in the 2nd quarter valued at $2,265,000. Quest Partners LLC acquired a new position in shares of Onsemi in the 2nd quarter valued at $296,000. AGF Management Ltd. lifted its stake in shares of Onsemi by 14.8% in the 2nd quarter. AGF Management Ltd. now owns 40,538 shares of the semiconductor company’s stock valued at $2,779,000 after purchasing an additional 5,227 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after purchasing an additional 909,558 shares during the period. 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.