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

Onsemi (NASDAQ:ON) had its price target trimmed by Wells Fargo & Company from $85.00 to $80.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on ON. Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Loop Capital started coverage on Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. KeyCorp decreased their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Finally, Truist Financial reaffirmed a “hold” rating and set a $60.00 price objective (down previously from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.35.

Onsemi Stock Performance

ON opened at $55.23 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The business has a fifty day simple moving average of $66.29 and a 200 day simple moving average of $70.11. Onsemi has a 1 year low of $53.10 and a 1 year high of $85.16. The company has a market capitalization of $23.52 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 5.29 and a beta of 1.64.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. Research analysts expect that Onsemi will post 3.99 EPS for the current year.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onsemi

A number of hedge funds have recently added to or reduced their stakes in ON. Capital Performance Advisors LLP acquired a new position in Onsemi during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi in the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. increased its stake in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new position in Onsemi during the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Onsemi by 42.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 269 shares in the last quarter. 97.70% of the stock is currently 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.