Susquehanna Cuts Onsemi (NASDAQ:ON) Price Target to $60.00

Onsemi (NASDAQ:ON) had its target price reduced by Susquehanna from $70.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on ON. JPMorgan Chase & Co. reduced their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday. UBS Group cut their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Morgan Stanley cut their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.16.

Onsemi Trading Up 1.7 %

ON opened at $50.92 on Tuesday. Onsemi has a 1-year low of $46.57 and a 1-year 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 company has a market cap of $21.68 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The company has a fifty day moving average price of $59.01 and a two-hundred day moving average price of $66.95.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data 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 net margin of 23.80% and a return on equity of 22.38%. Analysts predict that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s 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 sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in Onsemi by 9.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 332,211 shares of the semiconductor company’s stock worth $20,937,000 after acquiring an additional 28,591 shares during the period. Canada Pension Plan Investment Board increased its holdings in Onsemi by 4.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 117,463 shares of the semiconductor company’s stock worth $7,406,000 after acquiring an additional 5,271 shares during the period. Farringdon Capital Ltd. bought a new stake in Onsemi during the 4th quarter worth approximately $684,000. NewEdge Advisors LLC increased its holdings in Onsemi by 1.2% during the 4th quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company’s stock worth $1,674,000 after acquiring an additional 312 shares during the period. Finally, Guggenheim Capital LLC increased its holdings in Onsemi by 1.1% during the 4th quarter. Guggenheim Capital LLC now owns 193,013 shares of the semiconductor company’s stock worth $12,169,000 after acquiring an additional 2,159 shares during the period. 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.