Onsemi (NASDAQ:ON) Price Target Cut to $95.00 by Analysts at Wells Fargo & Company

Onsemi (NASDAQ:ON) had its target price decreased by analysts at Wells Fargo & Company from $110.00 to $95.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 55.00% from the company’s current price.

Other equities research analysts also recently issued reports about the company. TD Cowen boosted their price target on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Stifel Nicolaus lowered 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. KeyCorp boosted their price target on Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Finally, Truist Financial lowered their price target on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $95.28.

Onsemi Stock Up 1.1 %

Shares of ON traded up $0.64 during trading on Tuesday, reaching $61.29. The company’s stock had a trading volume of 2,134,504 shares, compared to its average volume of 7,252,361. The company has a fifty day moving average of $74.26 and a two-hundred day moving average of $76.05. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 5.92 and a beta of 1.80. 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 (NASDAQ:ON) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the company posted $1.32 EPS. Onsemi’s quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts predict that Onsemi will post 4.31 EPS for the current fiscal year.

Institutional Trading of Onsemi

Several institutional investors have recently modified their holdings of ON. CWM LLC lifted its holdings in shares of Onsemi by 51.2% in the third quarter. CWM LLC now owns 10,646 shares of the semiconductor company’s stock valued at $990,000 after buying an additional 3,606 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Onsemi by 45.3% in the third quarter. HB Wealth Management LLC now owns 3,151 shares of the semiconductor company’s stock valued at $293,000 after buying an additional 982 shares during the period. RFG Advisory LLC lifted its holdings in shares of Onsemi by 23.7% during the third quarter. RFG Advisory LLC now owns 3,859 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 739 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Onsemi by 8.5% during the third quarter. DAVENPORT & Co LLC now owns 11,267 shares of the semiconductor company’s stock valued at $1,047,000 after purchasing an additional 882 shares during the last quarter. Finally, Royal Fund Management LLC purchased a new stake in shares of Onsemi during the third quarter valued at $251,000. 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.