Onsemi (NASDAQ:ON) Price Target Lowered to $72.00 at Stifel Nicolaus

Onsemi (NASDAQ:ON) had its target price decreased by Stifel Nicolaus from $82.00 to $72.00 in a research note issued to investors on Thursday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the semiconductor company’s stock.

ON has been the subject of several other research reports. Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday. They set an outperform rating and a $104.00 price objective for the company. Truist Financial reduced their price objective on shares of Onsemi from $94.00 to $89.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Rosenblatt Securities restated a neutral rating and set a $75.00 price objective on shares of Onsemi in a research report on Tuesday, February 6th. Mizuho reduced their price objective on shares of Onsemi from $98.00 to $92.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Finally, TD Cowen raised their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company an outperform rating in a research report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $98.12.

Onsemi Stock Down 2.4 %

Onsemi stock opened at $62.93 on Thursday. The stock has a market cap of $27.05 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 6.27 and a beta of 1.80. 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 company’s 50-day moving average price is $75.07 and its two-hundred day moving average price is $76.66. Onsemi has a 52 week low of $61.47 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS. On average, analysts expect that Onsemi will post 4.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in Onsemi by 6.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,493,408 shares of the semiconductor company’s stock valued at $183,390,000 after acquiring an additional 157,433 shares in the last quarter. Capital Insight Partners LLC raised its position in Onsemi by 9.7% during the first quarter. Capital Insight Partners LLC now owns 57,733 shares of the semiconductor company’s stock valued at $4,246,000 after acquiring an additional 5,084 shares in the last quarter. Hennessy Advisors Inc. raised its position in shares of Onsemi by 9.9% in the first quarter. Hennessy Advisors Inc. now owns 38,459 shares of the semiconductor company’s stock valued at $2,829,000 after purchasing an additional 3,459 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Onsemi by 39.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,299 shares of the semiconductor company’s stock valued at $978,000 after purchasing an additional 3,735 shares during the period. Finally, Davis Investment Partners LLC bought a new position in shares of Onsemi in the first quarter valued at approximately $940,000. 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.