Onsemi (NASDAQ:ON) PT Lowered to $85.00 at Truist Financial

Onsemi (NASDAQ:ON) had its target price lowered by Truist Financial from $89.00 to $85.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

ON has been the topic of a number of other reports. Roth Mkm boosted their price target 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. Wells Fargo & Company dropped their target price on Onsemi from $110.00 to $95.00 and set an overweight rating on the stock in a report on Tuesday, April 23rd. Morgan Stanley decreased their price target on Onsemi from $80.00 to $70.00 and set an equal weight rating for the company in a research note on Monday, April 22nd. StockNews.com upgraded Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. Finally, Evercore ISI assumed coverage on Onsemi in a research note on Tuesday, April 16th. They set an outperform rating and a $104.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Onsemi has a consensus rating of Moderate Buy and an average target price of $90.24.

Onsemi Trading Up 0.5 %

Shares of NASDAQ ON opened at $70.37 on Tuesday. The company has a market cap of $30.28 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 3.16 and a beta of 1.78. The stock’s 50 day simple moving average is $72.35 and its 200 day simple moving average is $74.77. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35.

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, beating the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $1.19 EPS. Onsemi’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts expect that Onsemi will post 3.86 EPS for the current year.

Institutional Trading of Onsemi

Several large investors have recently made changes to their positions in ON. International Assets Investment Management LLC grew its stake in Onsemi by 7,749.6% in the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Onsemi by 7.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 637 shares during the period. State of Michigan Retirement System lifted its position in shares of Onsemi by 3.6% during the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the last quarter. Synergy Asset Management LLC boosted its stake in Onsemi by 91.5% during the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after purchasing an additional 73,909 shares during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in Onsemi in the 4th quarter valued at approximately $1,137,000. 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.