The Goldman Sachs Group Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its target price cut by equities researchers at The Goldman Sachs Group from $92.00 to $77.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 42.38% from the company’s current price.

Several other equities analysts have also commented on the stock. Wells Fargo & Company initiated coverage on shares of Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price target on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. BNP Paribas decreased their target price on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a research report on Thursday, December 12th. Two 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.43.

Onsemi Trading Down 7.3 %

Shares of ON traded down $4.23 during mid-day trading on Friday, reaching $54.08. The stock had a trading volume of 8,079,115 shares, compared to its average volume of 8,838,477. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a 52-week low of $53.60 and a 52-week high of $85.16. The business’s fifty day moving average is $67.20 and its 200 day moving average is $70.35. The firm has a market cap of $23.03 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 7.07 and a beta of 1.64.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. On average, sell-side analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’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 transaction of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in shares of Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi during the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. raised its stake in shares of Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Onsemi in the 3rd quarter valued at approximately $43,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Onsemi by 42.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 269 shares in the last quarter. 97.70% of the stock is 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.