Wells Fargo & Company Lowers Onsemi (NASDAQ:ON) Price Target to $45.00

Onsemi (NASDAQ:ON) had its target price dropped by analysts at Wells Fargo & Company from $60.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.98% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ON. Citigroup dropped their target price on Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group reduced their target price on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Rosenblatt Securities reissued a “neutral” rating and set a $42.00 price target on shares of Onsemi in a research note on Tuesday. Mizuho reduced their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Finally, Robert W. Baird dropped their target price on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $54.32.

Onsemi Price Performance

Onsemi stock opened at $38.80 on Tuesday. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The firm has a market cap of $16.38 billion, a P/E ratio of 10.69, a P/E/G ratio of 16.74 and a beta of 1.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The business’s fifty day moving average is $39.89 and its two-hundred day moving average is $54.37.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was down 22.4% on a year-over-year basis. Equities research analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ON. Nordea Investment Management AB grew its holdings in Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the period. Blue Trust Inc. boosted its stake in shares of Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 1,119 shares during the period. Oak Thistle LLC acquired a new position in shares of Onsemi during the 4th quarter worth approximately $515,000. Deltec Asset Management LLC acquired a new stake in Onsemi during the 4th quarter valued at $6,343,000. Finally, Wedge Capital Management L L P NC boosted its position in Onsemi by 40.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company’s stock worth $1,763,000 after purchasing an additional 8,043 shares during the period. 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.