Onsemi (NASDAQ:ON) Given New $85.00 Price Target at TD Cowen

Onsemi (NASDAQ:ON) had its price objective decreased by TD Cowen from $90.00 to $85.00 in a report published on Tuesday morning, Marketbeat.com reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the company. Rosenblatt Securities reaffirmed a neutral rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. The Goldman Sachs Group reduced their price objective on Onsemi from $91.00 to $81.00 and set a buy rating on the stock in a research note on Tuesday, April 16th. Mizuho dropped their target price on Onsemi from $98.00 to $92.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Roth Mkm raised their target price on Onsemi from $75.00 to $90.00 and gave the company a buy rating in a report on Tuesday, February 6th. Finally, Morgan Stanley dropped their target price on Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $90.24.

Onsemi Trading Down 0.9 %

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

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 business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. On average, analysts forecast that Onsemi will post 4.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of Onsemi by 7,749.6% in the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after buying an additional 82,301 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Onsemi by 7.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after purchasing an additional 637 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares during the last quarter. Synergy Asset Management LLC lifted its holdings in shares of Onsemi by 91.5% during the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after purchasing an additional 73,909 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in shares of Onsemi during the fourth quarter valued at $1,137,000. 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.