Loop Capital Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective reduced by Loop Capital from $65.00 to $55.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently issued reports on ON. Susquehanna cut their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Citigroup reduced their price target on shares of Onsemi from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Benchmark dropped their target price on shares of Onsemi from $60.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday. Rosenblatt Securities restated a “neutral” rating and set a $42.00 price target on shares of Onsemi in a research note on Tuesday. Finally, The Goldman Sachs Group dropped their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.32.

Onsemi Price Performance

Shares of ON stock opened at $38.51 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The company has a market capitalization of $16.25 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The firm’s 50-day moving average is $40.06 and its two-hundred day moving average is $54.48. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. Analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Onsemi in the fourth quarter valued at $378,312,000. Pacer Advisors Inc. grew its holdings in shares of Onsemi by 2,735.5% during the first quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company’s stock worth $87,330,000 after buying an additional 2,070,529 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Onsemi by 26.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company’s stock valued at $203,462,000 after acquiring an additional 1,055,461 shares during the period. Janus Henderson Group PLC raised its stake in Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after acquiring an additional 1,041,989 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Onsemi during the 4th quarter worth approximately $62,426,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.