Onsemi (NASDAQ:ON) Price Target Lowered to $52.00 at Morgan Stanley

Onsemi (NASDAQ:ON) had its target price cut by investment analysts at Morgan Stanley from $64.00 to $52.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price indicates a potential upside of 2.80% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. UBS Group dropped their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday. BNP Paribas dropped their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Robert W. Baird increased their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price target on shares of Onsemi in a report on Tuesday, November 19th. Finally, KeyCorp dropped their price target on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

Onsemi Price Performance

Shares of ON traded up $0.33 during mid-day trading on Tuesday, reaching $50.59. The company had a trading volume of 1,914,371 shares, compared to its average volume of 8,727,943. Onsemi has a twelve month low of $49.80 and a twelve month high of $85.16. 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 company’s 50-day moving average is $62.13 and its 200-day moving average is $68.10. The company has a market capitalization of $21.54 billion, a P/E ratio of 12.56, a P/E/G ratio of 10.02 and a beta of 1.62.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Onsemi

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the period. Van ECK Associates Corp raised its stake in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after purchasing an additional 31,889 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after purchasing an additional 326,734 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.