Onsemi (NASDAQ:ON) Given New $70.00 Price Target at Susquehanna

Onsemi (NASDAQ:ON) had its price objective cut by research analysts at Susquehanna from $80.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target indicates a potential upside of 24.42% from the stock’s previous close.

A number of other research firms have also recently weighed in on ON. Morgan Stanley increased their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. The Goldman Sachs Group cut their price target on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a report on Tuesday, November 19th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Mizuho set a $85.00 price target on Onsemi in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $82.26.

Onsemi Stock Performance

Shares of ON stock opened at $56.26 on Wednesday. The company has a market cap of $23.96 billion, a P/E ratio of 13.96, a PEG ratio of 10.54 and a beta of 1.64. The business has a 50 day moving average of $64.20 and a two-hundred day moving average of $69.31. Onsemi has a 52 week low of $53.10 and a 52 week high of $85.16. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, analysts anticipate that Onsemi will post 4 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Onsemi

Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi in the third quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Onsemi during the third quarter valued at $33,000. GHP Investment Advisors Inc. lifted its stake in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi during the 3rd quarter worth about $43,000. Finally, Synergy Asset Management LLC purchased a new position in Onsemi during the 4th quarter valued at about $51,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.