Onsemi (NASDAQ:ON) Price Target Cut to $85.00

Onsemi (NASDAQ:ON) had its price target decreased by equities researchers at Deutsche Bank Aktiengesellschaft from $90.00 to $85.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 19.99% from the company’s current price.

ON has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Morgan Stanley dropped their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Evercore ISI began coverage on Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price objective on the stock. Finally, Roth Mkm raised their target price on Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $90.24.

Onsemi Trading Up 0.0 %

ON traded up $0.02 on Tuesday, hitting $70.84. 3,548,001 shares of the company were exchanged, compared to its average volume of 7,498,926. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The firm has a fifty day simple moving average of $72.95 and a two-hundred day simple moving average of $75.13. The stock has a market capitalization of $30.45 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned $1.19 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. Sell-side analysts expect that Onsemi will post 4.26 earnings per share for the current year.

Institutional Investors Weigh In On Onsemi

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors bought a new stake in Onsemi during the fourth quarter valued at about $697,276,000. Norges Bank purchased a new stake in Onsemi during the 4th quarter valued at approximately $418,102,000. Invesco Ltd. lifted its holdings in shares of Onsemi by 26.0% in the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after buying an additional 1,200,723 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onsemi by 55.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock worth $195,124,000 after buying an additional 828,944 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Onsemi by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after acquiring an additional 817,237 shares in 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.