The Goldman Sachs Group Lowers Onsemi (NASDAQ:ON) Price Target to $64.00

Onsemi (NASDAQ:ON) had its target price lowered by The Goldman Sachs Group from $77.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on the company. BNP Paribas reduced their target price on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Friday, February 7th. Susquehanna cut their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday. TD Cowen cut their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, KeyCorp cut their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Stock Performance

NASDAQ ON opened at $50.92 on Tuesday. The business’s 50-day moving average price is $59.01 and its 200 day moving average price is $66.95. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. The company has a market capitalization of $21.68 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. 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 (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. On average, research analysts predict that Onsemi will post 3.99 earnings per share for the current year.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Geode Capital Management LLC raised its stake in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares in the last quarter. Norges Bank bought a new stake in shares of Onsemi in the 4th quarter worth $378,312,000. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after buying an additional 1,037,624 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after acquiring an additional 729,081 shares during 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.