Onsemi (NASDAQ:ON) Given New $70.00 Price Target at KeyCorp

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

Several other equities analysts also recently issued reports on ON. Truist Financial reissued a “hold” rating and set a $60.00 price target (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Roth Mkm reissued a “buy” rating and set a $100.00 target price on shares of Onsemi in a research note on Thursday, December 12th. BNP Paribas dropped their price target on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $87.00 target price on shares of Onsemi in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.35.

Onsemi Trading Down 3.1 %

NASDAQ ON opened at $53.51 on Tuesday. 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 has a one year low of $53.10 and a one year high of $85.16. The company has a 50-day simple moving average of $65.58 and a 200-day simple moving average of $69.89. The firm has a market capitalization of $22.78 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 5.29 and a beta of 1.64.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. On average, equities analysts forecast that Onsemi will post 3.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Onsemi in the third quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi in the 3rd quarter valued at approximately $33,000. GHP Investment Advisors Inc. increased its holdings in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in Onsemi during the third quarter valued at approximately $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Onsemi by 42.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 269 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.