Truist Financial Cuts Onsemi (NASDAQ:ON) Price Target to $52.00

Onsemi (NASDAQ:ON) had its target price lowered by Truist Financial from $60.00 to $52.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the stock. Roth Mkm decreased their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday. B. Riley decreased their price target on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday. Mizuho decreased their price target on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research note on Friday, February 7th. Finally, Morgan Stanley cut their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Price Performance

Shares of NASDAQ ON opened at $50.92 on Tuesday. The stock has a market cap of $21.68 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 10.27 and a beta of 1.61. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16. The company’s 50-day moving average price is $59.01 and its 200 day moving average price is $66.95. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (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%. As a group, research analysts forecast that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

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

Institutional Trading of Onsemi

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after buying an additional 344,354 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares in the last quarter. Norges Bank acquired a new stake in shares of Onsemi during the fourth quarter worth approximately $378,312,000. Allspring Global Investments Holdings LLC grew its position in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after buying an additional 1,037,624 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after buying an additional 729,081 shares in the last quarter. Institutional investors and hedge funds 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.