Onsemi (NASDAQ:ON – Get Free Report) was down 2.7% during trading on Tuesday after Truist Financial lowered their price target on the stock from $94.00 to $89.00. Truist Financial currently has a buy rating on the stock. Onsemi traded as low as $75.38 and last traded at $75.52. Approximately 1,001,316 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 8,695,516 shares. The stock had previously closed at $77.59.
Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price target on Onsemi from $118.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. Roth Mkm began coverage on Onsemi in a research note on Tuesday, November 14th. They set a “buy” rating and a $75.00 price objective for the company. Susquehanna cut their price objective on Onsemi from $110.00 to $90.00 and set a “positive” rating for the company in a report on Tuesday, October 31st. Morgan Stanley reduced their target price on Onsemi from $110.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $92.00 price objective on shares of Onsemi in a report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.27.
Institutional Investors Weigh In On Onsemi
A number of hedge funds have recently modified their holdings of the stock. Provence Wealth Management Group bought a new stake in Onsemi during the 3rd quarter valued at $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of Onsemi by 95.5% in the second quarter. Brown Brothers Harriman & Co. now owns 348 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 170 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of Onsemi in the fourth quarter worth $32,000. FinTrust Capital Advisors LLC bought a new position in shares of Onsemi in the fourth quarter worth $25,000. Finally, Ancora Advisors LLC bought a new position in shares of Onsemi in the first quarter worth $33,000. Institutional investors own 96.36% of the company’s stock.
Onsemi Trading Down 3.0 %
The stock has a market cap of $32.43 billion, a P/E ratio of 15.71, a PEG ratio of 1.26 and a beta of 1.81. The firm’s fifty day moving average price is $77.12 and its two-hundred day moving average price is $84.46. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.44 and a quick ratio of 1.60.
Onsemi (NASDAQ:ON – Get Free Report) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.69% and a return on equity of 33.78%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts forecast that Onsemi will post 5.13 EPS for the current year.
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.