Onsemi (NASDAQ:ON) Given New $60.00 Price Target at JPMorgan Chase & Co.

Onsemi (NASDAQ:ON) had its target price cut by JPMorgan Chase & Co. from $88.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other research firms have also recently weighed in on ON. Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. The Goldman Sachs Group reduced their price objective on Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Jefferies Financial Group reduced their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. BNP Paribas reduced their price objective on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Onsemi Stock Up 1.9 %

ON stock opened at $47.93 on Tuesday. Onsemi has a 1-year low of $46.57 and a 1-year high of $85.16. The business has a fifty day moving average price of $59.62 and a 200-day moving average price of $67.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The stock has a market capitalization of $20.41 billion, a P/E ratio of 11.89, a P/E/G ratio of 10.27 and a beta of 1.62.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Equities analysts forecast that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its position in Onsemi by 268.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,163 shares of the semiconductor company’s stock valued at $230,000 after purchasing an additional 2,304 shares during the period. Exchange Traded Concepts LLC raised its position in Onsemi by 675.6% during the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company’s stock valued at $273,000 after purchasing an additional 3,270 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Onsemi by 22.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company’s stock valued at $263,000 after purchasing an additional 657 shares during the period. CX Institutional raised its position in Onsemi by 5.2% during the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 232 shares during the period. Finally, Creative Planning raised its position in Onsemi by 35.9% during the third quarter. Creative Planning now owns 29,879 shares of the semiconductor company’s stock valued at $2,170,000 after purchasing an additional 7,888 shares during the period. 97.70% of the stock is owned by 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.