Onsemi (NASDAQ:ON) Given New $60.00 Price Target at Benchmark

Onsemi (NASDAQ:ON) had its price target cut by equities researchers at Benchmark from $90.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price objective suggests a potential upside of 25.18% from the stock’s current price.

Other analysts also recently issued reports about the company. Truist Financial decreased their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday. Needham & Company LLC decreased their price objective on Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a report on Monday. TD Cowen dropped their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Friday, February 7th. Finally, Robert W. Baird boosted their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Trading Up 1.9 %

Shares of Onsemi stock opened at $47.93 on Wednesday. The stock has a fifty day moving average price of $59.62 and a 200-day moving average price of $67.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a market cap of $20.41 billion, a PE ratio of 11.89, a P/E/G ratio of 10.27 and a beta of 1.61. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. Equities research analysts anticipate that Onsemi will post 3.99 EPS for the current year.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB grew its holdings in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the last quarter. Natixis Advisors LLC boosted its position in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares during the period. Cinctive Capital Management LP bought a new stake in Onsemi in the 3rd quarter worth $1,270,000. Blue Trust Inc. increased its position in shares of Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 1,119 shares during the period. Finally, Oak Thistle LLC bought a new position in shares of Onsemi during the fourth quarter valued at about $515,000. 97.70% of the stock is currently owned by institutional investors.

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.