Truist Financial Cuts Onsemi (NASDAQ:ON) Price Target to $85.00

Onsemi (NASDAQ:ON) had its price objective reduced by Truist Financial from $89.00 to $85.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms have also weighed in on ON. TD Cowen reduced their target price on Onsemi from $90.00 to $85.00 and set a buy rating on the stock in a report on Tuesday. StockNews.com upgraded Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. Wells Fargo & Company reduced their target price on Onsemi from $110.00 to $95.00 and set an overweight rating on the stock in a report on Tuesday, April 23rd. Susquehanna cut their price target on Onsemi from $90.00 to $85.00 and set a positive rating on the stock in a report on Tuesday. Finally, Morgan Stanley cut their price target on Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $90.24.

Onsemi Trading Up 0.5 %

Shares of Onsemi stock traded up $0.36 during trading on Tuesday, reaching $70.37. 6,515,239 shares of the company were exchanged, compared to its average volume of 7,550,528. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The business has a 50-day moving average price of $72.46 and a 200-day moving average price of $74.92. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 3.12 and a beta of 1.78.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping 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 analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Onsemi will post 3.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Onsemi

A number of institutional investors have recently bought and sold shares of the business. Provence Wealth Management Group acquired a new position in shares of Onsemi in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Onsemi in the fourth quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Onsemi in the fourth quarter valued at approximately $33,000. Private Wealth Management Group LLC bought a new stake in shares of Onsemi in the fourth quarter valued at approximately $33,000. Finally, Hanseatic Management Services Inc. bought a new stake in shares of Onsemi in the third quarter valued at approximately $38,000. Institutional investors and hedge funds 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.