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

Onsemi (NASDAQ:ON) had its price objective decreased by Wells Fargo & Company from $110.00 to $95.00 in a research note released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

ON has been the topic of several other reports. Morgan Stanley reduced their target price on Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Monday, April 22nd. BNP Paribas reissued an underperform rating and set a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Rosenblatt Securities reaffirmed a neutral rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, February 6th. Needham & Company LLC reaffirmed a buy rating and issued a $92.00 price target on shares of Onsemi in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus reduced their price target on Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $95.28.

Onsemi Price Performance

ON opened at $68.06 on Tuesday. The stock’s 50 day simple moving average is $73.32 and its 200 day simple moving average is $75.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The firm has a market cap of $29.26 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 6.55 and a beta of 1.80.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the company earned $1.32 EPS. Onsemi’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts predict that Onsemi will post 4.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock valued at $4,205,014,000 after purchasing an additional 321,682 shares in the last quarter. Capital World Investors bought a new position in Onsemi in the fourth quarter valued at about $697,276,000. Invesco Ltd. lifted its holdings in Onsemi by 26.0% in the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after acquiring an additional 1,200,723 shares during the period. Norges Bank bought a new position in Onsemi in the fourth quarter valued at about $418,102,000. Finally, Ameriprise Financial Inc. lifted its holdings in Onsemi by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after acquiring an additional 817,237 shares during the period. 97.70% of the stock is owned by institutional investors.

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.