Onsemi (NASDAQ:ON) Price Target Cut to $34.00 by Analysts at Robert W. Baird

Onsemi (NASDAQ:ON - Free Report) had its target price reduced by Robert W. Baird from $42.00 to $34.00 in a research report released on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the semiconductor company's stock.

Several other equities research analysts have also issued reports on ON. The Goldman Sachs Group decreased their target price on Onsemi from $77.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. 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. Needham & Company LLC cut their price objective on Onsemi from $57.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. KeyCorp cut their price objective on Onsemi from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, TD Cowen upped their price target on shares of Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Onsemi currently has a consensus rating of "Moderate Buy" and an average price target of $54.32.

Onsemi Trading Up 3.0 %

ON traded up $1.21 during trading on Tuesday, hitting $40.98. The company's stock had a trading volume of 11,721,467 shares, compared to its average volume of 7,660,456. The stock's fifty day moving average price is $39.72 and its 200-day moving average price is $53.91. 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. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08.

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

Institutional Trading of Onsemi

Several large investors have recently added to or reduced their stakes in ON. Nordea Investment Management AB lifted its holdings in Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock worth $25,724,000 after purchasing an additional 82,614 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Onsemi by 61.0% during the 4th quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company's stock valued at $293,000 after acquiring an additional 1,758 shares during the period. Czech National Bank grew its holdings in shares of Onsemi by 5.8% in the fourth quarter. Czech National Bank now owns 92,322 shares of the semiconductor company's stock worth $5,821,000 after purchasing an additional 5,062 shares during the last quarter. Bar Harbor Wealth Management lifted its holdings in Onsemi by 5.7% during the 4th quarter. Bar Harbor Wealth Management now owns 33,987 shares of the semiconductor company's stock valued at $2,143,000 after buying an additional 1,845 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Onsemi during the fourth quarter valued at approximately $515,000. 97.70% of the stock is currently owned by 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.