KeyCorp Raises Onsemi (NASDAQ:ON) Price Target to $100.00

Onsemi (NASDAQ:ONFree Report) had its price target upped by KeyCorp from $95.00 to $100.00 in a report issued on Tuesday, Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus raised their price objective on Onsemi from $72.00 to $85.00 and gave the stock a hold rating in a report on Tuesday, January 2nd. Needham & Company LLC reaffirmed a buy rating and set a $92.00 price target on shares of Onsemi in a research report on Tuesday. Robert W. Baird reissued a neutral rating and issued a $60.00 price objective (down from $120.00) on shares of Onsemi in a report on Tuesday, October 31st. Mizuho reduced their price target on shares of Onsemi from $120.00 to $98.00 and set a buy rating for the company in a research report on Tuesday, October 31st. Finally, Susquehanna lowered their price objective on shares of Onsemi from $110.00 to $90.00 and set a positive rating on the stock in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $98.92.

Read Our Latest Stock Report on Onsemi

Onsemi Trading Up 4.9 %

NASDAQ:ON opened at $80.71 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 2.71. Onsemi has a 1 year low of $61.47 and a 1 year high of $111.35. The stock has a market cap of $34.76 billion, a P/E ratio of 16.51, a P/E/G ratio of 4.04 and a beta of 1.81. The stock has a 50-day simple moving average of $77.56 and a 200-day simple moving average of $84.23.

Onsemi (NASDAQ:ONGet Free Report) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the firm posted $1.32 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. As a group, analysts anticipate that Onsemi will post 4.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

A number of hedge funds and other institutional investors have recently modified their holdings of ON. Provence Wealth Management Group purchased a new position in Onsemi during the 3rd quarter valued at about $25,000. Brown Brothers Harriman & Co. increased its stake in shares of Onsemi by 95.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 348 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 170 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi in the 4th quarter valued at approximately $32,000. Private Wealth Management Group LLC purchased a new stake in Onsemi in the 4th quarter valued at approximately $33,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in Onsemi during the fourth quarter worth $33,000. 96.36% of the stock is currently owned by institutional investors and hedge funds.

About Onsemi

(Get Free Report)

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.

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