onsemi (NASDAQ:ON) Stock Gets Price Target Cut from B. Riley Financial

onsemi (NASDAQ:ON) had its price objective lowered by B. Riley Financial from $105.00 to $97.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on ON. Citigroup decreased their price objective on onsemi from $120.00 to $98.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Robert W. Baird raised their target price on onsemi from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Cantor Fitzgerald restated a “neutral” rating and set a $90.00 target price on shares of onsemi in a report on Tuesday. Seaport Research Partners assumed coverage on onsemi in a research report on Tuesday, September 22nd. They set a “buy” rating and a $100.00 target price for the company. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $62.00 price target on shares of onsemi in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.03.

onsemi Price Performance

ON opened at $63.01 on Tuesday. The company has a fifty day moving average price of $74.45 and a two-hundred day moving average price of $82.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.49 and a current ratio of 3.55. onsemi has a 52 week low of $44.56 and a 52 week high of $134.92. The firm has a market capitalization of $24.53 billion, a PE ratio of 36.63, a P/E/G ratio of 0.57 and a beta of 2.11.

onsemi (NASDAQ:ON) last issued its earnings results on Monday, November 2nd. The semiconductor company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. onsemi had a net margin of 10.82% and a return on equity of 15.53%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, analysts anticipate that onsemi will post 3.27 earnings per share for the current year.

Insider Transactions at onsemi

In other onsemi news, insider Sudhir Gopalswamy sold 15,578 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,246,240.00. Following the completion of the transaction, the insider directly owned 158,177 shares of the company’s stock, valued at approximately $12,654,160. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On onsemi

Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in onsemi by 10.9% during the 1st quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company’s stock worth $848,392,000 after purchasing an additional 1,345,894 shares in the last quarter. Van ECK Associates Corp lifted its stake in onsemi by 16.6% in the second quarter. Van ECK Associates Corp now owns 5,143,343 shares of the semiconductor company’s stock valued at $486,252,000 after buying an additional 731,540 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in onsemi by 7.4% in the third quarter. Pictet Asset Management Holding SA now owns 4,550,913 shares of the semiconductor company’s stock valued at $349,788,000 after buying an additional 314,203 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in onsemi by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,442,177 shares of the semiconductor company’s stock valued at $212,997,000 after buying an additional 207,587 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of onsemi by 8.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,334,491 shares of the semiconductor company’s stock valued at $267,026,000 after buying an additional 268,267 shares during the period. Institutional investors own 97.70% of the company’s stock.

Key Headlines Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported its fourth consecutive earnings beat, while data-center sales reportedly surged 175%. The company’s planned $600 million acquisition of Ferric is intended to strengthen its power-delivery technology for AI processors. Onsemi AI data-center sales and valuation
• Neutral Sentiment: Investors are weighing whether fast-growing AI demand can become a durable growth driver for onsemi, or whether it is insufficient to offset weakness elsewhere in the business.
• Negative Sentiment: Semiconductor peers also fell in a post-midterm retreat from AI-chip stocks, adding sector-wide pressure despite no new company-specific negative catalyst reported for onsemi. AI-chip stocks slide
• Negative Sentiment: Reports that onsemi is delaying some automakers’ inventory restocking while prioritizing AI and industrial customers raise concerns about near-term auto demand. Several analysts have also taken a more cautious view, including Mizuho and Goldman Sachs, which lowered expectations for the stock. Onsemi delays auto restocking as AI sales jump Mizuho forecast

onsemi Company Profile

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.