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

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

A number of other equities analysts also recently issued reports on ON. BNP Paribas reiterated an underperform rating and set a $55.00 price target on shares of Onsemi in a research note on Friday, April 19th. Roth Mkm lifted their price target on Onsemi from $75.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Morgan Stanley cut their target price on Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Monday. Mizuho cut their target price on Onsemi from $98.00 to $92.00 and set a buy rating on the stock in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus cut their target price on Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a research note on Thursday, April 18th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $95.28.

Onsemi Stock Performance

Shares of Onsemi stock opened at $66.38 on Tuesday. Onsemi has a one year low of $59.34 and a one year high of $111.35. The firm has a market capitalization of $28.53 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 6.40 and a beta of 1.80. The business has a 50-day simple moving average of $73.60 and a 200 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 (NASDAQ:ON) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 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 business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the company posted $1.32 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Onsemi will post 4.3 earnings per share for the current fiscal year.

Institutional Trading of Onsemi

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after purchasing an additional 82,301 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in Onsemi by 7.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after purchasing an additional 637 shares during the last quarter. State of Michigan Retirement System lifted its position in Onsemi by 3.6% in the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares during the last quarter. Synergy Asset Management LLC lifted its position in Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after purchasing an additional 73,909 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Onsemi during the fourth quarter valued at approximately $1,137,000. Institutional investors 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.