Benchmark Trims Onsemi (NASDAQ:ON) Target Price to $80.00

Onsemi (NASDAQ:ON) had its target price cut by analysts at Benchmark from $88.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 12.96% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. BNP Paribas restated an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Truist Financial reduced their price objective on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. TD Cowen decreased their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Mizuho cut their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Onsemi Price Performance

NASDAQ:ON opened at $70.82 on Tuesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The stock’s fifty day moving average is $73.11 and its two-hundred day moving average is $75.28. The company has a market capitalization of $30.44 billion, a P/E ratio of 14.48, a P/E/G ratio of 6.71 and a beta of 1.80. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company posted $1.19 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts expect that Onsemi will post 4.26 EPS for the current year.

Hedge Funds Weigh In On Onsemi

A number of institutional investors have recently modified their holdings of ON. Provence Wealth Management Group acquired a new position in Onsemi in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi in the fourth quarter valued at $32,000. MeadowBrook Investment Advisors LLC purchased a new position in Onsemi during the fourth quarter worth about $33,000. Private Wealth Management Group LLC purchased a new position in Onsemi during the fourth quarter worth about $33,000. Finally, Hanseatic Management Services Inc. purchased a new stake in Onsemi in the 3rd quarter valued at about $38,000. 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.