Onsemi (NASDAQ:ON) Price Target Cut to $42.00 by Analysts at Stifel Nicolaus

Onsemi (NASDAQ:ON) had its price objective lowered by Stifel Nicolaus from $52.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. Mizuho dropped their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Truist Financial decreased their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company dropped their price target on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, KeyCorp reduced their price objective on Onsemi from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.52.

Onsemi Stock Up 1.1 %

ON opened at $34.64 on Thursday. The company has a market cap of $14.62 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08. The company has a 50-day moving average price of $43.54 and a 200 day moving average price of $57.48. 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 (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Sell-side analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Several institutional investors have recently bought and sold shares of ON. Elequin Capital LP raised its stake in shares of Onsemi by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 274 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi during the 4th quarter worth about $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Onsemi in the 4th quarter valued at about $43,000. Synergy Asset Management LLC purchased a new position in shares of Onsemi in the 4th quarter valued at about $51,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Onsemi during the fourth quarter worth about $51,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.