Onsemi (NASDAQ:ON) PT Lowered to $81.00 at The Goldman Sachs Group

Onsemi (NASDAQ:ON) had its target price trimmed by The Goldman Sachs Group from $91.00 to $81.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also recently issued reports on ON. Evercore ISI initiated coverage on Onsemi in a research note on Tuesday. They issued an outperform rating and a $104.00 price objective for the company. Stifel Nicolaus restated a hold rating and set a $82.00 price objective on shares of Onsemi in a research note on Thursday, March 14th. Truist Financial dropped their price objective on shares of Onsemi from $94.00 to $89.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Needham & Company LLC reissued a buy rating and set a $92.00 target price on shares of Onsemi in a report on Tuesday, February 6th. Finally, Mizuho lowered their price target on shares of Onsemi from $98.00 to $92.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $98.12.

Onsemi Stock Down 2.4 %

NASDAQ:ON opened at $62.93 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. Onsemi has a twelve month low of $61.47 and a twelve month high of $111.35. The company has a market cap of $27.05 billion, a PE ratio of 12.87, a P/E/G ratio of 6.27 and a beta of 1.80. The company’s 50 day moving average is $75.07 and its two-hundred day moving average is $76.66.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. Analysts anticipate that Onsemi will post 4.32 EPS for the current year.

Institutional Trading of Onsemi

Several large investors have recently made changes to their positions in ON. Vanguard Group Inc. grew its holdings in shares of Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after buying an additional 321,682 shares in the last quarter. Geode Capital Management LLC grew its stake in Onsemi by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 9,271,748 shares of the semiconductor company’s stock valued at $761,615,000 after acquiring an additional 136,908 shares in the last quarter. Capital World Investors acquired a new stake in Onsemi in the 4th quarter valued at about $697,276,000. Voya Investment Management LLC lifted its stake in Onsemi by 16.2% in the 4th quarter. Voya Investment Management LLC now owns 6,229,535 shares of the semiconductor company’s stock worth $520,353,000 after purchasing an additional 868,203 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in shares of Onsemi by 122,198.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after purchasing an additional 6,057,365 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other 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.