JPMorgan Chase & Co. Cuts Onsemi (NASDAQ:ON) Price Target to $60.00

Onsemi (NASDAQ:ON) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $88.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 27.55% from the stock’s current price.

A number of other brokerages have also recently issued reports on ON. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. Truist Financial restated a “hold” rating and set a $60.00 target price (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. UBS Group reduced their price objective on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird upped their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley lowered their price target on shares of Onsemi from $64.00 to $52.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Onsemi Trading Down 8.2 %

Shares of ON stock opened at $47.04 on Tuesday. Onsemi has a 1-year low of $46.57 and a 1-year high of $85.16. The firm’s 50-day simple moving average is $60.06 and its 200-day simple moving average is $67.34. The firm has a market cap of $20.03 billion, a P/E ratio of 11.67, a PEG ratio of 10.27 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. As a group, equities analysts forecast that Onsemi will post 3.99 EPS for the current year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the 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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its position in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares during the period. Cinctive Capital Management LP bought a new position in Onsemi during the third quarter valued at about $1,270,000. Blue Trust Inc. grew its holdings in Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 1,119 shares during the period. Finally, Oak Thistle LLC bought a new stake in Onsemi in the fourth quarter worth about $515,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Company Profile

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.