Onsemi (NASDAQ:ON) PT Lowered to $55.00

Onsemi (NASDAQ:ON) had its target price reduced by BNP Paribas from $60.00 to $55.00 in a research note issued to investors on Friday.

Several other brokerages also recently issued reports on ON. Benchmark raised their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. Truist Financial lifted their price objective on shares of Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley cut Onsemi from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. Finally, Rosenblatt Securities upped their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Three research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.43.

Onsemi Stock Performance

ON stock traded up $3.46 during trading on Friday, hitting $74.71. The company had a trading volume of 8,947,834 shares, compared to its average volume of 6,736,683. The firm has a market cap of $32.14 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 3.57 and a beta of 1.65. The firm has a 50-day moving average price of $71.63 and a 200-day moving average price of $71.41. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. Onsemi’s revenue was down 17.2% compared to the same quarter last year. On average, analysts expect 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 firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,939 shares of company stock worth $2,626,651 over the last three months. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently modified their holdings of ON. Dimensional Fund Advisors LP increased its stake in shares of Onsemi by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after buying an additional 665,633 shares during the last quarter. Capital International Investors boosted its position in Onsemi by 1.0% during the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after acquiring an additional 42,117 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Onsemi by 7.9% during the 2nd quarter. Van ECK Associates Corp now owns 2,765,975 shares of the semiconductor company’s stock worth $189,608,000 after acquiring an additional 201,852 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in Onsemi by 6.7% in the 1st quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock worth $190,939,000 after acquiring an additional 161,987 shares during the period. Hedge funds and other 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.