Onsemi (NASDAQ:ON) Price Target Lowered to $50.00 at Benchmark

Onsemi (NASDAQ:ON) had its price objective reduced by Benchmark from $60.00 to $50.00 in a research report sent to investors on Tuesday, Marketbeat.com reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on ON. JPMorgan Chase & Co. decreased their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their target price on shares of Onsemi from $52.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Craig Hallum dropped their price target on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Roth Capital set a $60.00 price objective on shares of Onsemi in a research report on Friday, March 7th. Finally, Jefferies Financial Group dropped their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.32.

Onsemi Price Performance

Shares of ON opened at $39.77 on Tuesday. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08. The stock has a market capitalization of $16.78 billion, a P/E ratio of 10.96, a P/E/G ratio of 16.74 and a beta of 1.39. The company has a 50 day moving average of $39.79 and a 200-day moving average of $54.19.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. As a group, equities research analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ON. Elequin Capital LP boosted its stake in shares of Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Onsemi during the 4th quarter worth approximately $41,000. Pilgrim Partners Asia Pte Ltd bought a new position in Onsemi in the 4th quarter valued at approximately $43,000. Golden State Wealth Management LLC boosted its position in Onsemi by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 320 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of Onsemi during the fourth quarter worth $51,000. Institutional investors own 97.70% of the company’s stock.

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.