Needham & Company LLC Cuts Onsemi (NASDAQ:ON) Price Target to $57.00

Onsemi (NASDAQ:ON) had its price target trimmed by Needham & Company LLC from $66.00 to $57.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently issued reports on the company. Truist Financial reissued a “hold” rating and set a $60.00 price target (down previously from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Loop Capital began coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 target price on the stock. Mizuho set a $85.00 target price on shares of Onsemi in a research report on Friday, October 18th. Susquehanna lowered their price target on shares of Onsemi from $80.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Finally, KeyCorp cut their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Stock Up 4.4 %

NASDAQ:ON opened at $50.06 on Monday. The stock has a fifty day simple moving average of $59.30 and a 200-day simple moving average of $67.06. 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 company has a market cap of $21.32 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. 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 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its position in Onsemi by 35.4% in the third quarter. Wedmont Private Capital now owns 3,734 shares of the semiconductor company’s stock valued at $265,000 after buying an additional 977 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted 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 valued at $230,000 after acquiring an additional 2,304 shares during the period. Exchange Traded Concepts LLC boosted its holdings 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 valued at $273,000 after acquiring an additional 3,270 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Onsemi by 22.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company’s stock worth $263,000 after acquiring an additional 657 shares during the period. Finally, CX Institutional raised its holdings in shares of Onsemi by 5.2% during the third 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. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.