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

Onsemi (NASDAQ:ON) had its price target reduced by equities researchers at Wells Fargo & Company from $110.00 to $95.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 55.00% from the company’s previous close.

Several other research analysts also recently issued reports on ON. Mizuho lowered their price target on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. KeyCorp raised their price target on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Susquehanna reaffirmed a “positive” rating and issued a $90.00 price target on shares of Onsemi in a research report on Monday, April 8th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.28.

Onsemi Price Performance

NASDAQ ON traded up $0.64 on Tuesday, hitting $61.29. 2,134,504 shares of the company’s stock were exchanged, compared to its average volume of 7,252,361. The stock has a 50-day moving average of $74.26 and a 200-day moving average of $76.05. The company has a current ratio of 2.71, a quick ratio of 1.74 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. The stock 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.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share. Analysts expect that Onsemi will post 4.31 earnings per share for the current year.

Institutional Investors Weigh In On Onsemi

Several large investors have recently modified their holdings of ON. CWM LLC increased its stake in shares of Onsemi by 51.2% during the 3rd quarter. CWM LLC now owns 10,646 shares of the semiconductor company’s stock worth $990,000 after purchasing an additional 3,606 shares during the last quarter. HB Wealth Management LLC increased 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 worth $293,000 after purchasing an additional 982 shares during the period. RFG Advisory LLC increased its holdings in shares of Onsemi by 23.7% in the third quarter. RFG Advisory LLC now owns 3,859 shares of the semiconductor company’s stock worth $359,000 after purchasing an additional 739 shares during the period. DAVENPORT & Co LLC increased its holdings in shares of Onsemi by 8.5% in the third quarter. DAVENPORT & Co LLC now owns 11,267 shares of the semiconductor company’s stock worth $1,047,000 after purchasing an additional 882 shares during the period. Finally, Royal Fund Management LLC purchased a new position in Onsemi in the third quarter worth $251,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.