Onsemi (NASDAQ:ON) Price Target Lowered to $50.00 at Benchmark

Onsemi (NASDAQ:ON - Free Report) had its target price reduced by Benchmark from $60.00 to $50.00 in a research note released on Tuesday morning, Marketbeat reports. They currently have a buy rating on the semiconductor company's stock.

Other equities research analysts have also issued reports about the company. Citigroup reduced their price objective on Onsemi from $52.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. TD Cowen raised their price objective on Onsemi from $38.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday. Morgan Stanley lowered their price objective on Onsemi from $52.00 to $44.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 11th. KeyCorp reduced their target price on shares of Onsemi from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Roth Mkm lowered their price target on shares of Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.32.

Onsemi Stock Performance

Shares of NASDAQ ON traded up $1.21 during midday trading on Tuesday, hitting $40.98. 11,721,467 shares of the stock traded hands, compared to its average volume of 7,644,493. Onsemi has a one year low of $31.04 and a one year high of $80.08. The firm has a 50-day moving average of $39.72 and a two-hundred day moving average of $54.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The firm has a market capitalization of $17.12 billion, a P/E ratio of 11.29, a PEG ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The firm's revenue was down 22.4% compared to the same quarter last year. On average, equities analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Onsemi

A number of institutional investors and hedge funds have recently made changes to their positions in ON. Nordea Investment Management AB grew its position in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock worth $25,724,000 after acquiring an additional 82,614 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock worth $509,000 after purchasing an additional 1,119 shares during the period. Oak Thistle LLC bought a new position in shares of Onsemi during the 4th quarter valued at approximately $515,000. Deltec Asset Management LLC purchased a new stake in Onsemi during the 4th quarter valued at $6,343,000. Finally, Wedge Capital Management L L P NC lifted its position in Onsemi by 40.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company's stock worth $1,763,000 after buying an additional 8,043 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.