Susquehanna Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its target price decreased by research analysts at Susquehanna from $70.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential upside of 19.86% from the company’s previous close.

Several other research firms have also weighed in on ON. Wells Fargo & Company reduced their price objective on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Truist Financial reissued a “hold” rating and issued a $60.00 price target (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Needham & Company LLC dropped their price objective on Onsemi from $66.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday. Finally, B. Riley decreased their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.16.

Onsemi Price Performance

Shares of Onsemi stock opened at $50.06 on Tuesday. The firm has a market cap of $21.32 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The firm’s 50-day simple moving average is $59.30 and its 200-day simple moving average is $67.06. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. 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 data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Onsemi

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after buying an additional 344,354 shares during the last quarter. Geode Capital Management LLC raised its holdings in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares during the period. Norges Bank acquired a new stake in Onsemi during the fourth quarter worth approximately $378,312,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.