TD Cowen Lowers Onsemi (NASDAQ:ON) Price Target to $85.00

Onsemi (NASDAQ:ON) had its price objective trimmed by TD Cowen from $90.00 to $85.00 in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on ON. KeyCorp increased their price objective on Onsemi from $95.00 to $100.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. Morgan Stanley cut their price objective on Onsemi from $80.00 to $70.00 and set an equal weight rating for the company in a research report on Monday, April 22nd. Stifel Nicolaus cut their price objective on Onsemi from $82.00 to $72.00 and set a hold rating for the company in a research report on Thursday, April 18th. Susquehanna reiterated a positive rating and issued a $90.00 price objective on shares of Onsemi in a research report on Monday, April 8th. Finally, Evercore ISI began coverage on Onsemi in a research report on Tuesday, April 16th. They issued an outperform rating and a $104.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi has a consensus rating of Moderate Buy and an average price target of $90.24.

Onsemi Stock Performance

Shares of Onsemi stock traded up $0.36 during trading hours on Tuesday, hitting $70.37. 6,515,239 shares of the company were exchanged, compared to its average volume of 7,550,528. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $72.46 and a 200-day moving average of $74.92. The stock has a market capitalization of $30.28 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 3.12 and a beta of 1.78.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 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 business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, analysts expect that Onsemi will post 3.86 EPS for the current fiscal year.

Institutional Trading of Onsemi

Hedge funds have recently added to or reduced their stakes in the business. Provence Wealth Management Group acquired a new stake in Onsemi in the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Onsemi in the 4th quarter worth about $32,000. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi in the 4th quarter worth about $33,000. Private Wealth Management Group LLC acquired a new stake in Onsemi in the 4th quarter worth about $33,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Onsemi in the 3rd quarter worth about $38,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.