Onsemi (NASDAQ:ON) Price Target Cut to $55.00

Onsemi (NASDAQ:ON) had its price target lowered by research analysts at BNP Paribas from $60.00 to $55.00 in a research report issued to clients and investors on Friday. BNP Paribas’ price objective suggests a potential downside of 26.63% from the company’s previous close.

Other research analysts also recently issued reports about the company. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. KeyCorp dropped their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three investment 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’s stock. Based on data from MarketBeat, Onsemi has an average rating of “Hold” and an average price target of $85.43.

Onsemi Stock Performance

NASDAQ:ON traded up $3.71 during trading hours on Friday, hitting $74.96. 9,108,917 shares of the company traded hands, compared to its average volume of 6,734,156. The firm has a 50-day moving average of $71.63 and a 200 day moving average of $71.41. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The stock has a market capitalization of $32.25 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 3.57 and a beta of 1.65.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. On average, analysts forecast that Onsemi will post 4.01 EPS for the current year.

Insiders Place Their Bets

In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,939 shares of company stock worth $2,626,651. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Several hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its position in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the period. Westside Investment Management Inc. lifted its position in Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Onsemi in the second quarter valued at approximately $43,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Onsemi during the first quarter worth approximately $45,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.