KeyCorp Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price target cut by research analysts at KeyCorp from $60.00 to $55.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price target suggests a potential upside of 59.36% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Stifel Nicolaus cut their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Roth Capital set a $60.00 price target on shares of Onsemi in a research note on Friday, March 7th. Citigroup lowered their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Truist Financial cut their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $65.92.

Onsemi Price Performance

Onsemi stock traded down $0.57 during mid-day trading on Tuesday, reaching $34.51. The company had a trading volume of 3,163,106 shares, compared to its average volume of 7,214,558. The stock’s 50-day simple moving average is $46.82 and its 200-day simple moving average is $59.73. The company has a market capitalization of $14.54 billion, a P/E ratio of 9.55, a P/E/G ratio of 16.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 1 year low of $32.20 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. On average, equities analysts predict that Onsemi will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Onsemi

A number of institutional investors have recently modified their holdings of ON. Elequin Capital LP raised its stake in Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 274 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi during the 4th quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd bought a new position in Onsemi during the fourth quarter worth $43,000. Synergy Asset Management LLC bought a new stake in Onsemi during the fourth quarter valued at $51,000. Finally, Plato Investment Management Ltd bought a new position in shares of Onsemi in the 4th quarter worth about $51,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.