onsemi (NASDAQ:ON) Stock Gets Price Target Reduction from The Goldman Sachs Group

onsemi (NASDAQ:ON) had its price objective lowered by The Goldman Sachs Group from $95.00 to $85.00 in a research report report published on Tuesday morning.

ON has been the topic of a number of other reports. Seaport Research Partners assumed coverage on shares of onsemi in a research note on Tuesday, September 22nd. They set a “buy” rating and a $100.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $116.00 price objective on shares of onsemi in a report on Tuesday. Rosenblatt Securities lowered their target price on shares of onsemi from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings raised shares of onsemi from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, onsemi presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.03.

onsemi Stock Down 11.6%

onsemi stock opened at $63.01 on Tuesday. The stock’s 50 day moving average price is $74.45 and its 200 day moving average price is $82.14. onsemi has a 1-year low of $44.56 and a 1-year high of $134.92. The company has a market cap of $24.53 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 0.57 and a beta of 2.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.55 and a quick ratio of 2.49.

onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.02. onsemi had a return on equity of 15.53% and a net margin of 10.82%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. onsemi’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that onsemi will post 3.27 EPS for the current fiscal year.

Insider Activity

In other onsemi news, insider Sudhir Gopalswamy sold 15,578 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the transaction, the insider directly owned 158,177 shares in the company, valued at approximately $12,654,160. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is owned by company insiders.

Institutional Trading of onsemi

Several institutional investors and hedge funds have recently modified their holdings of the business. Greenleaf Trust lifted its position in onsemi by 2.5% during the third quarter. Greenleaf Trust now owns 5,890 shares of the semiconductor company’s stock worth $453,000 after buying an additional 144 shares during the period. V Square Quantitative Management LLC boosted its stake in onsemi by 2.7% in the 1st quarter. V Square Quantitative Management LLC now owns 5,946 shares of the semiconductor company’s stock worth $368,000 after buying an additional 157 shares during the last quarter. Compound Planning Inc. grew its holdings in onsemi by 3.9% in the 1st quarter. Compound Planning Inc. now owns 4,733 shares of the semiconductor company’s stock valued at $293,000 after buying an additional 179 shares during the period. Root Financial Partners LLC grew its holdings in onsemi by 39.4% in the 1st quarter. Root Financial Partners LLC now owns 701 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 198 shares during the period. Finally, Brookstone Capital Management grew its holdings in onsemi by 5.6% in the 3rd quarter. Brookstone Capital Management now owns 5,318 shares of the semiconductor company’s stock valued at $409,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Key Stories Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported its fourth consecutive earnings beat, while data-center sales reportedly surged 175%. The company’s planned $600 million acquisition of Ferric is intended to strengthen its power-delivery technology for AI processors. Onsemi AI data-center sales and valuation
• Neutral Sentiment: Investors are weighing whether fast-growing AI demand can become a durable growth driver for onsemi, or whether it is insufficient to offset weakness elsewhere in the business.
• Negative Sentiment: Semiconductor peers also fell in a post-midterm retreat from AI-chip stocks, adding sector-wide pressure despite no new company-specific negative catalyst reported for onsemi. AI-chip stocks slide
• Negative Sentiment: Reports that onsemi is delaying some automakers’ inventory restocking while prioritizing AI and industrial customers raise concerns about near-term auto demand. Several analysts have also taken a more cautious view, including Mizuho and Goldman Sachs, which lowered expectations for the stock. Onsemi delays auto restocking as AI sales jump Mizuho forecast

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.