Onsemi (NASDAQ:ON) Price Target Cut to $81.00 by Analysts at The Goldman Sachs Group

Onsemi (NASDAQ:ON) had its price target trimmed by The Goldman Sachs Group from $91.00 to $81.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

ON has been the subject of several other research reports. KeyCorp upped their target price on Onsemi from $95.00 to $100.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. Rosenblatt Securities reaffirmed a neutral rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. Mizuho cut their target price on Onsemi from $98.00 to $92.00 and set a buy rating for the company in a research note on Tuesday, February 6th. Truist Financial cut their target price on Onsemi from $94.00 to $89.00 and set a buy rating for the company in a research note on Tuesday, February 6th. Finally, StockNews.com upgraded shares of Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $96.52.

Onsemi Stock Down 3.5 %

ON stock opened at $60.71 on Tuesday. 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 company’s 50 day moving average is $74.67 and its 200 day moving average is $76.43. The stock has a market cap of $26.10 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 6.13 and a beta of 1.80. Onsemi has a 1-year low of $60.26 and a 1-year high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share. Sell-side analysts predict that Onsemi will post 4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock valued at $4,205,014,000 after buying an additional 321,682 shares during the period. Geode Capital Management LLC raised its position in shares of Onsemi by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 9,271,748 shares of the semiconductor company’s stock worth $761,615,000 after purchasing an additional 136,908 shares during the last quarter. Capital World Investors purchased a new position in shares of Onsemi in the 4th quarter worth about $697,276,000. Voya Investment Management LLC raised its position in shares of Onsemi by 16.2% in the 4th quarter. Voya Investment Management LLC now owns 6,229,535 shares of the semiconductor company’s stock worth $520,353,000 after purchasing an additional 868,203 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its position in shares of Onsemi by 122,198.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after purchasing an additional 6,057,365 shares during the last quarter. Hedge funds and other institutional investors 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.