Onsemi (NASDAQ:ON) PT Lowered to $70.00 at Morgan Stanley

Onsemi (NASDAQ:ON) had its price target trimmed by Morgan Stanley from $80.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other research analysts have also weighed in on the company. BNP Paribas reaffirmed an underperform rating and issued a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. TD Cowen lifted their target price on Onsemi from $80.00 to $90.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Needham & Company LLC reissued a buy rating and issued a $92.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. Roth Mkm raised their price target on Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Finally, StockNews.com upgraded Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Onsemi currently has an average rating of Moderate Buy and an average price target of $95.28.

Onsemi Price Performance

Shares of NASDAQ ON opened at $65.53 on Monday. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $28.17 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. The business has a 50 day simple moving average of $73.93 and a 200-day simple moving average of $75.84.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts expect that Onsemi will post 4.3 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

Several hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors raised its holdings in Onsemi by 3.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 4,163 shares of the semiconductor company’s stock valued at $387,000 after acquiring an additional 132 shares during the last quarter. Ballentine Partners LLC boosted its position in Onsemi by 1.7% in the 3rd quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company’s stock valued at $731,000 after buying an additional 134 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Onsemi by 13.2% during the third quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 149 shares during the last quarter. Slow Capital Inc. lifted its position in shares of Onsemi by 0.4% during the third quarter. Slow Capital Inc. now owns 40,154 shares of the semiconductor company’s stock worth $3,732,000 after purchasing an additional 157 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its holdings in Onsemi by 1.7% in the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after acquiring an additional 164 shares during the last quarter. 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.