KeyCorp Cuts Onsemi (NASDAQ:ON) Price Target to $70.00

Onsemi (NASDAQ:ON) had its target price reduced by KeyCorp from $90.00 to $70.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on ON. BNP Paribas lowered their price objective on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. Morgan Stanley upped their target price on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. 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. Finally, Robert W. Baird upped their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.35.

Onsemi Price Performance

Onsemi stock opened at $53.51 on Tuesday. The company has a market cap of $22.78 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 5.29 and a beta of 1.64. Onsemi has a one year low of $53.10 and a one year high of $85.16. The business has a fifty day moving average of $65.58 and a two-hundred day moving average of $69.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The firm’s revenue was down 19.2% on a year-over-year basis. As a group, analysts predict that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Davis Investment Partners LLC lifted its position in shares of Onsemi by 0.8% during the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after purchasing an additional 142 shares in the last quarter. Greenleaf Trust boosted its holdings in Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares during the last quarter. Meridian Financial Partners LLC boosted its stake in shares of Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after buying an additional 192 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Onsemi by 4.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 206 shares in the last quarter. Finally, Sentry Investment Management LLC increased its position in shares of Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 209 shares during the last quarter. 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.