Needham & Company LLC Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price target lowered by Needham & Company LLC from $57.00 to $50.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on ON. Roth Capital set a $60.00 price objective on Onsemi in a report on Friday, March 7th. TD Cowen increased their price target on shares of Onsemi from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley cut shares of Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Thursday, April 24th. KeyCorp cut their price target on shares of Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Susquehanna decreased their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $54.32.

Onsemi Price Performance

NASDAQ ON opened at $39.77 on Tuesday. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a market cap of $16.78 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The firm’s 50-day simple moving average is $39.79 and its two-hundred day simple moving average is $54.19.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $1.08 EPS. Onsemi’s revenue for the quarter was down 22.4% on a year-over-year basis. Research analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Nordea Investment Management AB boosted its position in Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the period. Fulton Bank N.A. boosted its holdings in shares of Onsemi by 61.0% during the fourth quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 1,758 shares during the period. Czech National Bank boosted its holdings in shares of Onsemi by 5.8% during the fourth quarter. Czech National Bank now owns 92,322 shares of the semiconductor company’s stock worth $5,821,000 after purchasing an additional 5,062 shares during the period. Bar Harbor Wealth Management grew its stake in shares of Onsemi by 5.7% in the fourth quarter. Bar Harbor Wealth Management now owns 33,987 shares of the semiconductor company’s stock worth $2,143,000 after purchasing an additional 1,845 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in Onsemi during the 4th quarter valued at about $515,000. Hedge funds and other institutional investors 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.