Onsemi (NASDAQ:ON) Given New $80.00 Price Target at Benchmark

Onsemi (NASDAQ:ON) had its target price decreased by equities researchers at Benchmark from $88.00 to $80.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price target suggests a potential upside of 15.93% from the company’s current price.

A number of other research analysts have also issued reports on ON. JPMorgan Chase & Co. reduced their price target on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Evercore ISI began coverage on Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price target for the company. Rosenblatt Securities reduced their price target on Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday. Stifel Nicolaus reduced their price target on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Finally, Susquehanna reduced their price target on Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.24.

Onsemi Trading Down 1.6 %

NASDAQ:ON opened at $69.01 on Tuesday. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The firm has a market capitalization of $29.66 billion, a P/E ratio of 14.21, a P/E/G ratio of 7.03 and a beta of 1.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. The business has a 50 day simple moving average of $72.80 and a 200 day simple moving average of $74.99.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts predict that Onsemi will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ON. Capital World Investors acquired a new position in Onsemi during the fourth quarter valued at $697,276,000. Norges Bank acquired a new position in Onsemi during the fourth quarter valued at $418,102,000. Invesco Ltd. raised its position in Onsemi by 26.0% during the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after buying an additional 1,200,723 shares during the period. Allspring Global Investments Holdings LLC raised its position in Onsemi by 55.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock valued at $195,124,000 after buying an additional 828,944 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Onsemi by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after buying an additional 817,237 shares during the period. 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.