Onsemi (NASDAQ:ON) Price Target Lowered to $87.00 at Needham & Company LLC

Onsemi (NASDAQ:ON) had its price objective trimmed by Needham & Company LLC from $92.00 to $87.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

ON has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Truist Financial upped their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. TD Cowen decreased their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Susquehanna upped their price target on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, StockNews.com cut shares of Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.57.

Onsemi Trading Up 3.4 %

NASDAQ ON opened at $74.70 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. 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 company 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. The firm’s fifty day simple moving average is $71.49 and its 200-day simple moving average is $71.48.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. As a group, sell-side analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several large investors have recently added to or reduced their stakes in the company. Ground Swell Capital LLC acquired a new position in shares of Onsemi in the 3rd quarter worth approximately $201,000. Van ECK Associates Corp raised its position in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the last quarter. Prosperitas Financial LLC boosted its stake in Onsemi by 14.8% in the third quarter. Prosperitas Financial LLC now owns 31,780 shares of the semiconductor company’s stock worth $2,308,000 after purchasing an additional 4,096 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Onsemi during the third quarter worth $87,000. Finally, BluePath Capital Management LLC increased its stake in shares of Onsemi by 23.6% in the third quarter. BluePath Capital Management LLC now owns 11,196 shares of the semiconductor company’s stock valued at $813,000 after buying an additional 2,139 shares in the last quarter. 97.70% of the stock is owned by 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.