Jefferies Financial Group Cuts Onsemi (NASDAQ:ON) Price Target to $85.00

Onsemi (NASDAQ:ON) had its price target trimmed by Jefferies Financial Group from $100.00 to $85.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also recently weighed in on ON. The Goldman Sachs Group cut their price target on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Truist Financial restated a “hold” rating and issued a $60.00 target price (down previously from $85.00) on shares of Onsemi in a research note on Friday, January 10th. Wells Fargo & Company decreased their price target on Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. B. Riley cut their price objective on Onsemi from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, KeyCorp lowered their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Onsemi has an average rating of “Moderate Buy” and a consensus target price of $68.16.

Onsemi Price Performance

ON stock opened at $50.06 on Monday. The company has a market capitalization of $21.32 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. Onsemi has a 52-week low of $46.57 and a 52-week high of $85.16. The business has a 50-day simple moving average of $59.30 and a two-hundred day simple moving average of $67.06. 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 (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Research analysts expect that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated 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 sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after acquiring an additional 344,354 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Norges Bank bought a new position in shares of Onsemi during the 4th quarter valued at about $378,312,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares in the last quarter. Finally, Van ECK Associates Corp lifted 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 worth $237,559,000 after buying an additional 729,081 shares during the last quarter. 97.70% of the stock is currently 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.