Craig Hallum Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective lowered by Craig Hallum from $78.00 to $50.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the semiconductor company’s stock.

A number of other analysts have also issued reports on ON. Truist Financial restated a “hold” rating and set a $60.00 target price (down previously from $85.00) on shares of Onsemi in a research report on Friday, January 10th. TD Cowen decreased their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Loop Capital initiated coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Mizuho decreased their price target on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Onsemi Stock Up 1.9 %

ON stock opened at $47.93 on Tuesday. The company’s 50 day simple moving average is $59.62 and its 200-day simple moving average is $67.18. The firm has a market capitalization of $20.41 billion, a PE ratio of 11.89, a P/E/G ratio of 10.27 and a beta of 1.62. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16. 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 (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Equities analysts expect that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $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 the SEC website. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Onsemi by 268.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,163 shares of the semiconductor company’s stock worth $230,000 after buying an additional 2,304 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Onsemi by 675.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company’s stock worth $273,000 after purchasing an additional 3,270 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Onsemi by 22.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 657 shares during the last quarter. CX Institutional increased its position in shares of Onsemi by 5.2% in the 3rd quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after purchasing an additional 232 shares during the last quarter. Finally, Creative Planning increased its position in shares of Onsemi by 35.9% in the 3rd quarter. Creative Planning now owns 29,879 shares of the semiconductor company’s stock worth $2,170,000 after purchasing an additional 7,888 shares during the last quarter. Hedge funds and other institutional investors 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.