Benchmark Trims Onsemi (NASDAQ:ON) Target Price to $80.00

Onsemi (NASDAQ:ON) had its price objective trimmed by Benchmark from $88.00 to $80.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price target on Onsemi from $110.00 to $95.00 and set an overweight rating for the company in a research report on Tuesday, April 23rd. Truist Financial reduced their price target on Onsemi from $94.00 to $89.00 and set a buy rating for the company in a research report on Tuesday, February 6th. The Goldman Sachs Group reduced their price target on Onsemi from $91.00 to $81.00 and set a buy rating for the company in a research report on Tuesday, April 16th. Susquehanna reduced their price target on Onsemi from $90.00 to $85.00 and set a positive rating for the company in a research report on Tuesday. Finally, Morgan Stanley dropped their price objective on Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $90.24.

Onsemi Trading Up 0.5 %

NASDAQ ON traded up $0.36 on Tuesday, reaching $70.37. The company had a trading volume of 6,515,239 shares, compared to its average volume of 7,550,528. The stock’s 50 day moving average is $72.46 and its 200-day moving average is $74.92. The stock has a market cap of $30.28 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 3.12 and a beta of 1.78. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities analysts predict that Onsemi will post 3.86 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently bought and sold shares of ON. Integrated Advisors Network LLC increased its position in shares of 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 purchasing an additional 164 shares during the last quarter. Lindbrook Capital LLC raised its stake in Onsemi by 10.8% during the third quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 173 shares during the last quarter. Perigon Wealth Management LLC grew its position in Onsemi by 7.7% during the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after purchasing an additional 177 shares during the last quarter. STF Management LP raised its stake in shares of Onsemi by 2.5% in the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after purchasing an additional 178 shares during the last quarter. Finally, Quent Capital LLC raised its stake in Onsemi by 25.3% during the 4th quarter. Quent Capital LLC now owns 980 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 198 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other 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.