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

Onsemi (NASDAQ:ON) had its price objective cut by investment analysts at Wells Fargo & Company from $110.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 44.97% from the company’s current price.

ON has been the topic of several other reports. TD Cowen raised their target price on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. Susquehanna reaffirmed a “positive” rating and set a $90.00 target price on shares of Onsemi in a research report on Monday, April 8th. Truist Financial lowered their price objective on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.28.

Onsemi Stock Up 6.2 %

ON stock opened at $65.53 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $73.93 and its 200 day moving average is $75.84. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. Sell-side analysts predict that Onsemi will post 4.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Onsemi by 27.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,949 shares of the semiconductor company’s stock worth $2,497,000 after purchasing an additional 7,291 shares during the last quarter. Verity & Verity LLC boosted its stake in Onsemi by 836.6% in the first quarter. Verity & Verity LLC now owns 23,978 shares of the semiconductor company’s stock worth $1,764,000 after buying an additional 21,418 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Onsemi by 67.5% during the first quarter. V Square Quantitative Management LLC now owns 4,375 shares of the semiconductor company’s stock valued at $322,000 after purchasing an additional 1,763 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of Onsemi during the first quarter valued at approximately $561,000. Finally, Spire Wealth Management lifted its stake in Onsemi by 0.7% in the first quarter. Spire Wealth Management now owns 56,901 shares of the semiconductor company’s stock worth $4,185,000 after acquiring an additional 423 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.