Onsemi (NASDAQ:ON) Given New $70.00 Price Target at Susquehanna

Onsemi (NASDAQ:ON) had its target price reduced by Susquehanna from $80.00 to $70.00 in a research report released on Wednesday,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on ON. Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a research report on Thursday, December 12th. Robert W. Baird upped their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. KeyCorp dropped their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their price target on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $81.70.

Onsemi Trading Down 3.1 %

NASDAQ ON opened at $54.50 on Wednesday. Onsemi has a one year low of $53.10 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. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 10.62 and a beta of 1.64. The company’s 50-day simple moving average is $64.00 and its two-hundred day simple moving average is $69.17.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Onsemi’s revenue was down 19.2% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Equities analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated 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 directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of institutional investors have recently made changes to their positions in the company. Bridgewater Associates LP lifted its holdings in Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after purchasing an additional 1,109,778 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Onsemi by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after buying an additional 380,471 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Onsemi by 19.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after acquiring an additional 326,734 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares during 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.