Onsemi (NASDAQ:ON) Price Target Cut to $70.00 by Analysts at Rosenblatt Securities

Onsemi (NASDAQ:ON) had its target price lowered by Rosenblatt Securities from $75.00 to $70.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts also recently commented on the company. Needham & Company LLC reissued a buy rating and set a $92.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. Evercore ISI started coverage on shares of Onsemi in a report on Tuesday, April 16th. They set an outperform rating and a $104.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a report on Thursday, April 18th. Susquehanna reaffirmed a positive rating and set a $90.00 price objective on shares of Onsemi in a research report on Monday, April 8th. Finally, Wells Fargo & Company cut their target price on shares of Onsemi from $110.00 to $95.00 and set an overweight rating on the stock in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $90.24.

Onsemi Stock Performance

Onsemi stock opened at $70.16 on Tuesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The stock has a market cap of $30.16 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. The stock has a 50 day moving average of $72.95 and a 200-day moving average of $75.13.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. On average, analysts expect that Onsemi will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Institutional investors have recently added to or reduced their stakes in the company. Provence Wealth Management Group bought a new stake in shares of Onsemi in the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi in the fourth quarter worth about $32,000. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi in the 4th quarter valued at about $33,000. Private Wealth Management Group LLC bought a new position in shares of Onsemi during the 4th quarter valued at about $33,000. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Onsemi in the 3rd quarter worth approximately $38,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.