Onsemi (NASDAQ:ON) Given New $85.00 Price Target at Deutsche Bank Aktiengesellschaft

Onsemi (NASDAQ:ON) had its price target cut by Deutsche Bank Aktiengesellschaft from $90.00 to $85.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on the stock. Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday, April 16th. They issued an outperform rating and a $104.00 price objective on the stock. Mizuho decreased their price objective on shares of Onsemi from $92.00 to $87.00 and set a buy rating on the stock in a research report on Tuesday. Stifel Nicolaus decreased their price objective on shares of Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a research report on Thursday, April 18th. Benchmark cut their target price on shares of Onsemi from $88.00 to $80.00 and set a buy rating for the company in a research note on Tuesday. Finally, Truist Financial cut their target price on shares of Onsemi from $89.00 to $85.00 and set a buy rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi presently has an average rating of Moderate Buy and a consensus price target of $90.24.

Onsemi Price Performance

Shares of NASDAQ ON opened at $70.16 on Tuesday. Onsemi has a one year low of $59.34 and a one year high of $111.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The company’s fifty day moving average is $72.95 and its two-hundred day moving average is $75.13. The firm has a market capitalization of $30.16 billion, a P/E ratio of 14.50, a PEG ratio of 6.71 and a beta of 1.80.

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

Institutional Trading of Onsemi

Institutional investors have recently modified their holdings of the company. Provence Wealth Management Group purchased a new stake in shares of Onsemi during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Onsemi during the 4th quarter worth about $32,000. Private Wealth Management Group LLC purchased a new stake in shares of Onsemi during the 4th quarter worth about $33,000. MeadowBrook Investment Advisors LLC purchased a new position in Onsemi in the 4th quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. purchased a new position in Onsemi in the 3rd quarter worth approximately $38,000. Hedge funds and other 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.