Susquehanna Lowers Onsemi (NASDAQ:ON) Price Target to $70.00

Onsemi (NASDAQ:ON) had its target price decreased by Susquehanna from $80.00 to $70.00 in a report released on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the company. Truist Financial reiterated a “hold” rating and issued a $60.00 price target (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Mizuho set a $85.00 price target on shares of Onsemi in a report on Friday, October 18th. Morgan Stanley lifted their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, TD Cowen dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.26.

Onsemi Stock Performance

NASDAQ ON opened at $56.03 on Wednesday. The business has a 50-day moving average price of $64.42 and a 200-day moving average price of $69.40. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a twelve month low of $53.10 and a twelve month high of $85.16. The firm has a market cap of $23.86 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 10.36 and a beta of 1.64.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 EPS. As a group, equities research analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Davis Investment Partners LLC raised its position in Onsemi by 0.8% during the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after acquiring an additional 142 shares in the last quarter. Greenleaf Trust grew its position in shares of Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares during the period. Meridian Financial Partners LLC increased its stake in Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Onsemi by 4.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 206 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 209 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.