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

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

ON has been the subject of several other research reports. Needham & Company LLC reaffirmed a buy rating and issued a $92.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. Truist Financial lowered their price target on shares of Onsemi from $94.00 to $89.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Rosenblatt Securities reaffirmed a neutral rating and issued a $75.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. TD Cowen upped their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group lowered their price target on shares of Onsemi from $91.00 to $81.00 and set a buy rating for the company in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $95.28.

Onsemi Price Performance

Shares of ON stock opened at $61.68 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The company has a market capitalization of $26.51 billion, a P/E ratio of 12.61, a P/E/G ratio of 5.92 and a beta of 1.80. The company’s 50-day simple moving average is $73.93 and its two-hundred day simple moving average is $75.84. Onsemi has a one year low of $59.34 and a one year high of $111.35.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 EPS. As a group, equities analysts anticipate that Onsemi will post 4.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Provence Wealth Management Group acquired a new stake in shares of Onsemi in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Onsemi during the fourth quarter valued at $32,000. Private Wealth Management Group LLC acquired a new stake in Onsemi during the fourth quarter valued at $33,000. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi during the fourth quarter valued at $33,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Onsemi during the third quarter valued at $38,000. 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.