Onsemi (NASDAQ:ON) Price Target Lowered to $60.00 at Benchmark

Onsemi (NASDAQ:ON) had its price objective dropped by equities researchers at Benchmark from $90.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price objective indicates a potential upside of 25.18% from the stock’s current price.

ON has been the topic of a number of other research reports. Truist Financial decreased their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday. The Goldman Sachs Group lowered their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday. Mizuho cut their price target on Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday. Morgan Stanley lowered their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Craig Hallum cut their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Price Performance

Onsemi stock opened at $47.93 on Wednesday. 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 has a 52 week low of $46.57 and a 52 week high of $85.16. The stock has a market capitalization of $20.41 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The stock has a fifty day moving average of $59.62 and a 200-day moving average of $67.18.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. On average, sell-side analysts expect that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $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 available through this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Greenleaf Trust grew its holdings in Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after buying an additional 173 shares in the last quarter. Meridian Financial Partners LLC lifted 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 valued at $821,000 after acquiring an additional 192 shares in the last quarter. Truvestments Capital LLC boosted its holdings in Onsemi by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 207 shares during the last quarter. Sentry Investment Management LLC grew its stake in shares of Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after acquiring an additional 209 shares in the last quarter. Finally, CX Institutional raised its holdings in shares of Onsemi by 5.2% in the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 232 shares during the last quarter. 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.