Onsemi (NASDAQ:ON) Given New $85.00 Price Target at TD Cowen

Onsemi (NASDAQ:ON) had its target price lowered by investment analysts at TD Cowen from $90.00 to $85.00 in a report released on Tuesday, Briefing.com reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price indicates a potential upside of 20.02% from the stock’s current price.

ON has been the subject of a number of other research reports. Susquehanna reaffirmed a “positive” rating and issued a $90.00 price target on shares of Onsemi in a report on Monday, April 8th. 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 report on Tuesday, February 6th. Stifel Nicolaus reduced their price target on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of Onsemi in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.08.

Onsemi Stock Performance

Shares of ON stock opened at $70.82 on Tuesday. The stock has a market cap of $30.44 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. The business has a 50-day simple moving average of $73.11 and a 200-day simple moving average of $75.28. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, equities analysts expect that Onsemi will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC grew its position in Onsemi by 28.7% in the first quarter. Perigon Wealth Management LLC now owns 3,170 shares of the semiconductor company’s stock worth $233,000 after acquiring an additional 707 shares during the period. Greenleaf Trust grew its position in Onsemi by 4.4% in the first quarter. Greenleaf Trust now owns 5,331 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 226 shares during the period. Guild Investment Management Inc. grew its position in Onsemi by 191.8% in the first quarter. Guild Investment Management Inc. now owns 23,065 shares of the semiconductor company’s stock worth $1,696,000 after acquiring an additional 15,160 shares during the period. MONECO Advisors LLC lifted its stake in Onsemi by 6.5% during the first quarter. MONECO Advisors LLC now owns 16,138 shares of the semiconductor company’s stock worth $1,187,000 after purchasing an additional 980 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC lifted its stake in Onsemi by 28.7% during the first quarter. Villere ST Denis J & Co. LLC now owns 435,936 shares of the semiconductor company’s stock worth $32,063,000 after purchasing an additional 97,191 shares in the last quarter. 97.70% of the stock is currently 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.