Onsemi (NASDAQ:ON) Price Target Lowered to $60.00 at Wells Fargo & Company

Onsemi (NASDAQ:ON) had its target price reduced by Wells Fargo & Company from $80.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the company. Robert W. Baird increased their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Mizuho decreased their price objective on Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday. Needham & Company LLC decreased their price objective on Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna decreased their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Onsemi Price Performance

NASDAQ:ON opened at $47.93 on Tuesday. The business’s 50-day moving average price is $59.62 and its 200 day moving average price is $67.18. The firm has a market cap of $20.41 billion, a P/E ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. Onsemi has a 52-week low of $46.57 and a 52-week high of $85.16. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. As a group, sell-side analysts predict that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi in the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. boosted its stake in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 514 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Onsemi in the fourth quarter worth $41,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the third quarter worth $43,000. Institutional investors and hedge funds 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.