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

Onsemi (NASDAQ:ON) had its target price cut by Needham & Company LLC from $66.00 to $57.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts have also issued reports on the company. Morgan Stanley decreased their price objective on Onsemi from $64.00 to $52.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. Loop Capital initiated coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. BNP Paribas dropped their price objective on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Truist Financial restated a “hold” rating and issued a $60.00 target price (down from $85.00) on shares of Onsemi in a research note on Friday, January 10th. Finally, TD Cowen dropped their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.63.

Onsemi Stock Performance

Shares of ON stock opened at $47.04 on Monday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16. The firm has a 50 day moving average of $60.06 and a 200-day moving average of $67.34. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. On average, equities analysts forecast that Onsemi will post 3.99 earnings per share for the current year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares in the company, 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 through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bridgewater Associates LP boosted its stake 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 worth $81,544,000 after acquiring an additional 1,109,778 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Andra AP fonden grew its stake in shares of Onsemi by 2,388.4% in the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock worth $21,651,000 after buying an additional 329,600 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after buying an additional 326,734 shares during the last quarter. 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.