onsemi (NASDAQ:ON) Stock Gets Price Target Reduction from Citigroup

onsemi (NASDAQ:ON) had its target price cut by Citigroup from $98.00 to $80.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other analysts also recently weighed in on ON. Stonex Financial raised onsemi to a “strong-buy” rating in a report on Wednesday, October 14th. Weiss Ratings upgraded onsemi from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Truist Financial lifted their price target on onsemi from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Tuesday. Craig Hallum upgraded onsemi from a “hold” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $85.00 in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price objective on onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $95.03.

onsemi Stock Up 0.5%

Shares of ON traded up $0.30 during mid-day trading on Wednesday, reaching $63.31. The company’s stock had a trading volume of 14,214,452 shares, compared to its average volume of 10,179,842. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.46 and a quick ratio of 2.49. onsemi has a 12-month low of $44.56 and a 12-month high of $134.92. The stock has a market cap of $24.65 billion, a PE ratio of 36.81, a price-to-earnings-growth ratio of 0.58 and a beta of 2.11. The company’s 50 day moving average is $74.22 and its 200 day moving average is $82.16.

onsemi (NASDAQ:ON) last posted its earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. onsemi had a return on equity of 15.61% and a net margin of 10.82%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. Equities analysts anticipate that onsemi will post 3.27 EPS for the current fiscal year.

Insider Activity at onsemi

In related news, insider Sudhir Gopalswamy sold 15,578 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,246,240.00. Following the completion of the sale, the insider owned 158,177 shares in the company, valued at $12,654,160. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Provenance Wealth Advisors LLC boosted its stake in shares of onsemi by 3,318.2% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 376 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 365 shares in the last quarter. Ascentis Independent Advisors purchased a new position in onsemi in the 1st quarter valued at approximately $36,000. Ninety One UK Ltd acquired a new position in onsemi during the third quarter worth $36,000. Root Financial Partners LLC raised its holdings in onsemi by 39.4% during the first quarter. Root Financial Partners LLC now owns 701 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 198 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new position in onsemi during the second quarter worth $67,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Key onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s AI data-center sales were reportedly up 175%, giving investors a fast-growing business line to watch as demand for AI infrastructure supports semiconductor suppliers. Article: Onsemi’s AI Data Center Sales Reportedly Grew 175%
• Neutral Sentiment: Analyst opinions are divided: Craig Hallum upgraded the stock and Truist maintained an optimistic outlook, while TD Cowen and Cantor Fitzgerald were more cautious. This mix may limit the impact of any one rating on the shares. Article: onsemi Rating Upgraded by Craig Hallum
• Negative Sentiment: Several firms have lowered price expectations, including Citigroup, B. Riley, Goldman Sachs and Mizuho, signaling continued concern about valuation or the near-term outlook. Article: onsemi Price Target Cut by Citigroup
• Negative Sentiment: onsemi has also been caught in a broader post-midterm selloff in AI-related semiconductor stocks, alongside Navitas and STMicroelectronics; the report cited no new company-specific news behind that sector pressure. Article: AI Chip Stocks Slide After Midterms

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.