Truist Financial Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its target price trimmed by Truist Financial from $60.00 to $52.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the semiconductor company’s stock.

Several other research analysts have also issued reports on ON. Loop Capital assumed coverage on shares of Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. KeyCorp cut their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Susquehanna cut their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday. TD Cowen cut their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Morgan Stanley cut their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Onsemi Trading Up 1.9 %

Onsemi stock opened at $47.93 on Tuesday. The stock has a market cap of $20.41 billion, a P/E ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16. The firm’s fifty day moving average price is $59.62 and its 200-day moving average price is $67.18. 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 results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Equities research analysts forecast that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were 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 in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in shares of Onsemi during the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Onsemi during the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. lifted its holdings in shares of Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi during the fourth quarter valued at approximately $41,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Onsemi during the third quarter valued at approximately $43,000. 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.