The Goldman Sachs Group Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price target dropped by investment analysts at The Goldman Sachs Group from $92.00 to $77.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 42.75% from the stock’s current price.

ON has been the subject of several other research reports. Mizuho set a $85.00 target price on Onsemi in a research note on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Roth Mkm reissued a “buy” rating and set a $100.00 target price on shares of Onsemi in a research note on Thursday, December 12th. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Truist Financial reiterated a “hold” rating and set a $60.00 price objective (down previously from $85.00) on shares of Onsemi in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.43.

Onsemi Stock Performance

Shares of ON opened at $53.94 on Friday. The firm has a market capitalization of $22.97 billion, a PE ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $66.86 and a 200 day moving average price of $70.27. Onsemi has a 52-week low of $53.60 and a 52-week high of $85.16.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. On average, sell-side analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ON. Bridgewater Associates LP boosted its holdings in Onsemi by 8,367.5% during the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after acquiring an additional 1,109,778 shares during the period. American Century Companies Inc. boosted its stake in Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after purchasing an additional 909,558 shares during the period. Van ECK Associates Corp grew its holdings in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Onsemi by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after buying an additional 665,633 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Onsemi by 66.4% in the second quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after acquiring an additional 574,900 shares during the period. 97.70% of the stock is owned by institutional investors.

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.