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

Onsemi (NASDAQ:ON) had its target price cut by Morgan Stanley from $80.00 to $70.00 in a research report report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other analysts also recently issued reports on the stock. Truist Financial dropped their price objective on shares of Onsemi from $94.00 to $89.00 and set a buy rating for the company in a report on Tuesday, February 6th. Needham & Company LLC restated a buy rating and set a $92.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. KeyCorp upped their price target on shares of Onsemi from $95.00 to $100.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Stifel Nicolaus dropped their target price on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a report on Thursday, April 18th. Finally, Susquehanna reiterated a positive rating and set a $90.00 target price on shares of Onsemi in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Onsemi presently has an average rating of Moderate Buy and an average price target of $95.28.

Onsemi Stock Performance

Shares of Onsemi stock opened at $65.53 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 5.92 and a beta of 1.80. The company’s fifty day moving average is $73.93 and its 200 day moving average is $75.84.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Sell-side analysts forecast that Onsemi will post 4.3 EPS for the current year.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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 purchasing an additional 321,682 shares during the last quarter. Capital World Investors acquired a new stake in Onsemi during the fourth quarter worth about $697,276,000. Invesco Ltd. increased its position in Onsemi by 26.0% during the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after purchasing an additional 1,200,723 shares during the last quarter. Norges Bank acquired a new stake in Onsemi during the fourth quarter worth about $418,102,000. Finally, Ameriprise Financial Inc. increased its position in Onsemi by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock worth $397,108,000 after purchasing an additional 817,237 shares during the last quarter. 97.70% of the stock is 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.