Onsemi (NASDAQ:ON) Price Target Lowered to $80.00 at Benchmark

Onsemi (NASDAQ:ON) had its target price reduced by equities researchers at Benchmark from $88.00 to $80.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 12.96% from the stock’s previous close.

ON has been the subject of several other reports. Mizuho lowered their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Truist Financial decreased their price target on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Needham & Company LLC reissued a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research note on Tuesday. Susquehanna decreased their target price on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Tuesday. Finally, Roth Mkm upped their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Onsemi Price Performance

ON opened at $70.82 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $30.44 billion, a P/E ratio of 14.48, a PEG ratio of 6.71 and a beta of 1.80. The stock has a 50-day moving average price of $73.11 and a 200-day moving average price of $75.28. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. Onsemi’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Equities analysts predict that Onsemi will post 4.26 earnings per share for the current fiscal year.

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently modified their holdings of the business. Provence Wealth Management Group purchased a new stake in shares of Onsemi during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Onsemi during the 4th quarter valued at about $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at about $33,000. Private Wealth Management Group LLC bought a new stake in shares of Onsemi in the fourth quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Onsemi during the third quarter valued at approximately $38,000. 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.