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

Onsemi (NASDAQ:ON - Get Free Report) had its price objective reduced by investment analysts at Wells Fargo & Company from $80.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor company's stock. Wells Fargo & Company's target price indicates a potential upside of 15.71% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. UBS Group dropped their price objective on Onsemi from $72.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Needham & Company LLC lowered their target price on Onsemi from $66.00 to $57.00 and set a "buy" rating for the company in a report on Monday. Citigroup lowered their target price on Onsemi from $77.00 to $52.00 and set a "neutral" rating for the company in a report on Tuesday. BNP Paribas lowered their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a "buy" rating for the company in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.16.

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Onsemi Trading Up 1.8 %

Shares of NASDAQ ON traded up $0.94 during trading hours on Tuesday, hitting $51.86. 4,658,556 shares of the company traded hands, compared to its average volume of 9,302,104. The stock has a market capitalization of $22.08 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company's 50 day moving average price is $59.01 and its 200 day moving average price is $66.95. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16.

Onsemi (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, equities research analysts anticipate that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the 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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Onsemi

Several hedge funds and other institutional investors have recently made changes to their positions in ON. Capital Performance Advisors LLP purchased a new stake in Onsemi during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new stake in Onsemi during the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. lifted its holdings in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company's stock worth $38,000 after buying an additional 514 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi during the 4th quarter worth about $41,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Onsemi during the 3rd quarter worth about $43,000. Hedge funds and other 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.