KeyCorp Lowers Onsemi (NASDAQ:ON) Price Target to $85.00

Onsemi (NASDAQ:ON) had its target price cut by KeyCorp from $90.00 to $85.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would suggest a potential upside of 10.98% from the stock’s current price.

A number of other analysts have also commented on the stock. Truist Financial cut their price objective on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Evercore ISI began coverage on shares of Onsemi in a research note on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research report on Thursday, June 13th. Jefferies Financial Group began coverage on Onsemi in a report on Monday, May 13th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.08.

Onsemi Trading Up 4.2 %

NASDAQ ON opened at $76.59 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The company has a market capitalization of $32.95 billion, a PE ratio of 15.63, a P/E/G ratio of 3.42 and a beta of 1.69. The stock has a 50-day simple moving average of $71.97 and a 200 day simple moving average of $73.78.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. Research analysts forecast that Onsemi will post 3.83 EPS for the current year.

Insider Transactions at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Advisors Network LLC increased its holdings in Onsemi by 1.7% in the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after purchasing an additional 164 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after acquiring an additional 177 shares in the last quarter. STF Management LP lifted its position in shares of Onsemi by 2.5% during the 4th quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock valued at $602,000 after acquiring an additional 178 shares during the period. Finally, Covestor Ltd boosted its stake in Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 190 shares in the last quarter. 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.