Wells Fargo & Company Trims Onsemi (NASDAQ:ON) Target Price to $95.00

Onsemi (NASDAQ:ON) had its price objective decreased by Wells Fargo & Company from $110.00 to $95.00 in a research note released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

A number of other equities analysts have also recently commented on the company. Morgan Stanley dropped their target price on Onsemi from $80.00 to $70.00 and set an equal weight rating for the company in a report on Monday. TD Cowen raised their price target on Onsemi from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. decreased their price target on Onsemi from $95.00 to $90.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. KeyCorp raised their price target on Onsemi from $95.00 to $100.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. Finally, BNP Paribas reaffirmed an underperform rating and set a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $95.28.

Onsemi Stock Performance

NASDAQ ON opened at $66.38 on Tuesday. The stock has a market capitalization of $28.53 billion, a PE ratio of 13.57, a P/E/G ratio of 6.40 and a beta of 1.80. The business has a 50 day simple moving average of $73.60 and a two-hundred day simple moving average of $75.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. On average, research analysts predict that Onsemi will post 4.3 EPS for the current fiscal year.

Institutional Trading of Onsemi

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Provence Wealth Management Group purchased a new position in Onsemi during the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Onsemi in the fourth quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi in the fourth quarter valued at approximately $33,000. Private Wealth Management Group LLC purchased a new position in shares of Onsemi in the fourth quarter valued at approximately $33,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Onsemi in the third quarter valued at approximately $38,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.