Needham & Company LLC Lowers Onsemi (NASDAQ:ON) Price Target to $50.00

Onsemi (NASDAQ:ON - Free Report) had its price objective reduced by Needham & Company LLC from $57.00 to $50.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their target price on Onsemi from $80.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Mizuho cut their target price on Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. B. Riley lowered shares of Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price target for the company. in a research report on Thursday, April 24th. Craig Hallum decreased their target price on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, February 11th. Finally, Susquehanna decreased their price objective on Onsemi from $70.00 to $60.00 and set a "positive" rating for the company in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $54.32.

Onsemi Stock Up 3.0 %

Shares of Onsemi stock traded up $1.21 during 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 52-week low of $31.04 and a 52-week high of $80.08. The stock's fifty day simple moving average is $39.72 and its 200 day simple moving average is $54.01. The firm has a market cap of $17.12 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating 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 business 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 EPS. The company's revenue for the quarter was down 22.4% on a year-over-year basis. On average, equities analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Truvestments Capital LLC boosted its holdings in Onsemi by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock worth $357,000 after buying an additional 207 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Onsemi by 0.3% during the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock worth $4,949,000 after acquiring an additional 235 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock valued at $424,000 after acquiring an additional 252 shares during the period. Huntington National Bank increased its stake in shares of Onsemi by 8.9% in the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock valued at $209,000 after purchasing an additional 271 shares in the last quarter. Finally, Elequin Capital LP raised its holdings in Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 274 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.