Onsemi (NASDAQ:ON) Price Target Lowered to $90.00 at KeyCorp

by · The Markets Daily

Onsemi (NASDAQ:ON – Free Report) had its price objective lowered by KeyCorp from $95.00 to $90.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock. KeyCorp also issued estimates for Onsemi’s Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $4.02 EPS and FY2025 earnings at $4.76 EPS.

A number of other analysts also recently issued reports on the company. Morgan Stanley downgraded Onsemi from an equal weight rating to an underweight rating and decreased their price target for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. TD Cowen upped their price target on Onsemi from $85.00 to $90.00 and gave the company a buy rating in a report on Tuesday, July 30th. StockNews.com cut shares of Onsemi from a hold rating to a sell rating in a report on Monday, August 26th. Truist Financial boosted their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Onsemi from $85.00 to $88.00 and gave the company a neutral rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $85.83.

Check Out Our Latest Research Report on Onsemi

Onsemi Price Performance

Shares of ON opened at $70.33 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $95.59. The company has a market cap of $30.13 billion, a P/E ratio of 16.02, a PEG ratio of 3.81 and a beta of 1.65. The firm’s 50 day moving average price is $72.06 and its 200 day moving average price is $71.57.

Onsemi (NASDAQ:ON – Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 earnings per share. On average, research analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ON. Mediolanum International Funds Ltd purchased a new position in shares of Onsemi in the first quarter valued at $2,447,000. Assenagon Asset Management S.A. increased its holdings in Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after acquiring an additional 88,496 shares in the last quarter. Norden Group LLC acquired a new position in Onsemi during the first quarter worth about $774,000. Axxcess Wealth Management LLC purchased a new stake in shares of Onsemi in the first quarter valued at about $808,000. Finally, Meeder Asset Management Inc. grew its position in shares of Onsemi by 42.9% in the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock valued at $1,914,000 after purchasing an additional 7,820 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Company Profile

(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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