Onsemi (NASDAQ:ON) Price Target Lowered to $70.00 at Morgan Stanley

Onsemi (NASDAQ:ON) had its price target decreased by Morgan Stanley from $80.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI began coverage on shares of Onsemi in a report on Tuesday, April 16th. They issued an outperform rating and a $104.00 target price on the stock. Rosenblatt Securities reiterated a neutral rating and set a $75.00 price objective on shares of Onsemi in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $95.00 to $90.00 and set a neutral rating for the company in a research report on Tuesday, February 6th. Roth Mkm upped their price objective on shares of Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Finally, Needham & Company LLC reiterated a buy rating and set a $92.00 price objective on shares of Onsemi in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $96.28.

Onsemi Price Performance

Shares of Onsemi stock opened at $60.65 on Monday. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a 50-day simple moving average of $74.26 and a two-hundred day simple moving average of $76.05. The stock has a market capitalization of $26.07 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the company earned $1.32 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Analysts forecast that Onsemi will post 4.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ON. Provence Wealth Management Group purchased a new stake in shares of Onsemi in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Onsemi in the fourth quarter valued at about $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Onsemi in the fourth quarter valued at about $33,000. Private Wealth Management Group LLC purchased a new stake in shares of Onsemi in the fourth quarter valued at about $33,000. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Onsemi in the third quarter valued at about $38,000. Institutional investors and hedge funds 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.