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

Onsemi (NASDAQ:ON) had its target price lowered by investment analysts at Susquehanna from $80.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential upside of 24.42% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Truist Financial reaffirmed 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. Roth Mkm reiterated a “buy” rating and set a $100.00 target price on shares of Onsemi in a report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price target on shares of Onsemi in a report on Tuesday, November 19th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, BNP Paribas lowered their target price on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $82.26.

Onsemi Stock Performance

Shares of ON opened at $56.26 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a 52-week low of $53.10 and a 52-week high of $85.16. The company has a 50-day simple moving average of $64.20 and a 200-day simple moving average of $69.31. The company has a market capitalization of $23.96 billion, a PE ratio of 13.96, a P/E/G ratio of 10.54 and a beta of 1.64.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. Equities research analysts predict that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s 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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently bought and sold shares of ON. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in Onsemi in the third quarter valued at about $33,000. GHP Investment Advisors Inc. raised its stake in 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 buying an additional 514 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in Onsemi during the 3rd quarter worth approximately $43,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Onsemi in the 4th quarter worth approximately $51,000. 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.