Onsemi (NASDAQ:ON) Price Target Cut to $60.00 by Analysts at JPMorgan Chase & Co.

Onsemi (NASDAQ:ON) had its target price cut by equities researchers at JPMorgan Chase & Co. from $88.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 27.55% from the stock’s previous close.

A number of other brokerages also recently weighed in on ON. Robert W. Baird lifted their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Benchmark reiterated a “buy” rating and issued a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Friday. Truist Financial reaffirmed a “hold” rating and set a $60.00 price objective (down from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Finally, UBS Group decreased their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Onsemi Price Performance

NASDAQ ON opened at $47.04 on Tuesday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16. The company has a market cap of $20.03 billion, a PE ratio of 11.67, a PEG ratio of 10.27 and a beta of 1.62. The stock’s 50-day moving average price is $60.06 and its two-hundred day moving average price is $67.34.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, analysts predict that Onsemi will post 3.99 EPS for the current year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the sale, the chief executive officer now directly 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 is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently added to or reduced their stakes in ON. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Onsemi by 268.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,163 shares of the semiconductor company’s stock worth $230,000 after acquiring an additional 2,304 shares during the period. Exchange Traded Concepts LLC lifted its stake in Onsemi by 675.6% during the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company’s stock worth $273,000 after purchasing an additional 3,270 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Onsemi by 22.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company’s stock valued at $263,000 after purchasing an additional 657 shares in the last quarter. CX Institutional raised its holdings in shares of Onsemi by 5.2% in the 3rd quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after buying an additional 232 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Onsemi by 35.9% during the 3rd quarter. Creative Planning now owns 29,879 shares of the semiconductor company’s stock worth $2,170,000 after buying an additional 7,888 shares during the period. 97.70% of the stock is currently owned by institutional investors.

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.