Jefferies Financial Group Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective cut by Jefferies Financial Group from $100.00 to $85.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on ON. B. Riley dropped their price target on shares of Onsemi from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, January 24th. KeyCorp dropped their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. BNP Paribas reduced their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Robert W. Baird increased their price objective on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $68.16.

Onsemi Stock Up 4.4 %

ON opened at $50.06 on Monday. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $59.30 and its 200-day moving average price is $67.06. The company has a market cap of $21.32 billion, a P/E ratio of 12.42, a P/E/G ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. On average, equities analysts expect that Onsemi will post 3.99 EPS for the current year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in Onsemi in the fourth quarter worth approximately $378,312,000. Bridgewater Associates LP increased its stake in shares of Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after purchasing an additional 1,109,778 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 purchasing an additional 1,037,624 shares during the period. Van ECK Associates Corp lifted its position in Onsemi by 26.4% during 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 purchasing an additional 729,081 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Onsemi by 0.7% during the fourth 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. 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.