B. Riley Cuts Onsemi (NASDAQ:ON) Price Target to $73.00

Onsemi (NASDAQ:ON) had its price target reduced by research analysts at B. Riley from $90.00 to $73.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 45.83% from the company’s previous close.

Several other analysts have also recently issued reports on ON. Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Roth Mkm reiterated a “buy” rating and set a $100.00 price objective on shares of Onsemi in a research report on Thursday, December 12th. Morgan Stanley reduced their target price on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Susquehanna dropped their target price on Onsemi from $80.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.16.

Onsemi Price Performance

ON stock opened at $50.06 on Tuesday. The company has a market capitalization of $21.32 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The company’s fifty day moving average price is $59.30 and its 200-day moving average price is $67.06. Onsemi has a one year low of $46.57 and a one year high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

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

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Hedge funds have recently added to or reduced their stakes in the company. Greenleaf Trust increased its holdings in Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares in the last quarter. Meridian Financial Partners LLC boosted its position in Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after purchasing an additional 192 shares in the last quarter. Truvestments Capital LLC grew its holdings in Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 207 shares during the period. Sentry Investment Management LLC increased its position in shares of Onsemi by 3.0% in the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after buying an additional 209 shares in the last quarter. Finally, CX Institutional raised its stake in shares of Onsemi by 5.2% during 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 during the period. 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.