Susquehanna Cuts Onsemi (NASDAQ:ON) Price Target to $70.00

Onsemi (NASDAQ:ON) had its price target decreased by Susquehanna from $80.00 to $70.00 in a research report released on Wednesday,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Truist Financial reissued a “hold” rating and issued a $60.00 target price (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered their target price on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price target on shares of Onsemi in a research note on Tuesday, November 19th. Finally, TD Cowen lowered their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Two 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.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $81.70.

Onsemi Stock Down 3.1 %

ON opened at $54.50 on Wednesday. The firm’s 50 day simple moving average is $64.00 and its two-hundred day simple moving average is $69.17. The company has a market capitalization of $23.21 billion, a PE ratio of 13.52, a PEG ratio of 10.62 and a beta of 1.64. Onsemi has a 1-year low of $53.10 and a 1-year high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the firm earned $1.39 EPS. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, equities analysts forecast that Onsemi will post 4 EPS for the current year.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB increased its stake in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the period. Natixis Advisors LLC lifted its holdings in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in Onsemi in the 3rd quarter valued at about $1,270,000. Oak Thistle LLC bought a new position in Onsemi in the 4th quarter worth about $515,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Onsemi by 18.7% during the third quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock worth $14,116,000 after acquiring an additional 30,695 shares during the period. 97.70% of the stock is owned by institutional investors.

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.