Morgan Stanley Lowers Onsemi (NASDAQ:ON) Price Target to $70.00

Onsemi (NASDAQ:ON) had its price target reduced by analysts at Morgan Stanley from $80.00 to $70.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 13.49% from the stock’s current price.

ON has been the topic of a number of other reports. TD Cowen boosted their price target on shares of Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Roth Mkm upped their target price on shares of Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.28.

Onsemi Price Performance

Shares of Onsemi stock opened at $61.68 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The firm’s 50-day simple moving average is $73.93 and its 200-day simple moving average is $75.84. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The firm has a market cap of $26.51 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share. As a group, research analysts expect that Onsemi will post 4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Large investors have recently bought and sold shares of the company. Provence Wealth Management Group bought a new stake in Onsemi in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi in the fourth quarter valued at approximately $32,000. Private Wealth Management Group LLC bought a new stake in Onsemi in the fourth quarter valued at approximately $33,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi in the fourth quarter valued at approximately $33,000. Finally, Hanseatic Management Services Inc. bought a new stake in Onsemi in the third quarter valued at approximately $38,000. Institutional investors own 97.70% of the company’s stock.

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.