Deutsche Bank Aktiengesellschaft Cuts Onsemi (NASDAQ:ON) Price Target to $85.00

Onsemi (NASDAQ:ON) had its target price cut by Deutsche Bank Aktiengesellschaft from $90.00 to $85.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on the stock. Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday, April 16th. They issued an outperform rating and a $104.00 target price for the company. JPMorgan Chase & Co. cut their price objective on Onsemi from $95.00 to $90.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. BNP Paribas reissued an underperform rating and issued a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. Wells Fargo & Company dropped their price target on Onsemi from $110.00 to $95.00 and set an overweight rating on the stock in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus decreased their price objective on Onsemi from $82.00 to $72.00 and set a hold rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $90.24.

Onsemi Stock Up 0.5 %

NASDAQ ON opened at $70.37 on Tuesday. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The stock has a market capitalization of $30.28 billion, a PE ratio of 14.36, a PEG ratio of 3.16 and a beta of 1.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. The business’s 50-day moving average is $72.35 and its 200 day moving average is $74.77.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. Sell-side analysts forecast that Onsemi will post 3.86 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

Several hedge funds and other institutional investors have recently modified their holdings of the company. Provence Wealth Management Group purchased a new position in shares of Onsemi in the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Onsemi in the fourth quarter worth approximately $32,000. Private Wealth Management Group LLC bought a new position in Onsemi in the fourth quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi during the 4th quarter worth $33,000. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Onsemi in the 3rd quarter worth $38,000. 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.