Onsemi (NASDAQ:ON) Given New $89.00 Price Target at Truist Financial

Onsemi (NASDAQ:ON) had its target price decreased by Truist Financial from $97.00 to $89.00 in a research note published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the semiconductor company’s stock.

ON has been the topic of a number of other reports. StockNews.com lowered Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. BNP Paribas lowered their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Mizuho set a $85.00 price target on Onsemi in a report on Friday, October 18th. Susquehanna raised their price target on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, TD Cowen lowered their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.57.

Onsemi Stock Performance

Shares of ON opened at $74.70 on Tuesday. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The business’s fifty day moving average price is $71.49 and its 200 day moving average price is $71.48. The stock has a market capitalization of $32.00 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $1.39 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. Equities research analysts forecast that Onsemi will post 4.01 EPS for the current year.

Insiders Place Their Bets

In other Onsemi 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 completion of the sale, the chief executive officer now directly owns 839,210 shares in the company, 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 SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Wealth Enhancement Advisory Services LLC raised its stake in shares of Onsemi by 39.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,299 shares of the semiconductor company’s stock worth $978,000 after purchasing an additional 3,735 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new position in shares of Onsemi in the 1st quarter valued at approximately $1,068,000. Norden Group LLC bought a new position in shares of Onsemi in the 1st quarter valued at approximately $774,000. Westside Investment Management Inc. raised its stake 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 valued at $41,000 after acquiring an additional 550 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Onsemi by 9.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,130 shares of the semiconductor company’s stock valued at $892,000 after acquiring an additional 1,059 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other 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.