Wells Fargo & Company Lowers Onsemi (NASDAQ:ON) Price Target to $80.00

Onsemi (NASDAQ:ON) had its price target lowered by Wells Fargo & Company from $85.00 to $80.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 44.98% from the stock’s current price.

ON has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. The Goldman Sachs Group decreased their price target on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Roth Mkm reaffirmed a “buy” rating and set a $100.00 price objective on shares of Onsemi in a report on Thursday, December 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Finally, KeyCorp cut their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and an average target price of $83.35.

Onsemi Stock Performance

Shares of ON opened at $55.18 on Monday. The stock has a market capitalization of $23.50 billion, a P/E ratio of 13.69, a P/E/G ratio of 7.07 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 1 year low of $53.10 and a 1 year high of $85.16. The company’s fifty day moving average is $66.59 and its two-hundred day moving average is $70.20.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 earnings per share. On average, sell-side analysts predict that Onsemi will post 4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly 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 filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Onsemi

A number of large investors have recently modified their holdings of ON. Davis Investment Partners LLC increased its holdings in Onsemi by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares in the last quarter. Greenleaf Trust grew its stake in shares of Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares in the last quarter. Meridian Financial Partners LLC raised its holdings in shares of Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after buying an additional 192 shares during the period. Dynamic Advisor Solutions LLC lifted its position in Onsemi by 4.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 206 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its holdings in Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after acquiring an additional 209 shares during the period. 97.70% of the stock is currently 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.