Onsemi (NASDAQ:ON) Given New $95.00 Price Target at Wells Fargo & Company

Onsemi (NASDAQ:ON) had its target price cut by Wells Fargo & Company from $110.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 44.97% from the company’s current price.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Susquehanna restated a “positive” rating and set a $90.00 target price on shares of Onsemi in a research report on Monday, April 8th. BNP Paribas restated an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. Mizuho lowered their target price on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Finally, KeyCorp boosted their price objective on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $95.28.

Onsemi Stock Performance

Shares of ON opened at $65.53 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a 50-day simple moving average of $73.93 and a 200-day simple moving average of $75.84. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a market capitalization of $28.17 billion, a PE ratio of 13.40, a P/E/G ratio of 5.92 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its 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. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the company earned $1.32 earnings per share. Equities research analysts predict that Onsemi will post 4.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Onsemi by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after acquiring an additional 321,682 shares during the period. Capital World Investors purchased a new position in shares of Onsemi during the 4th quarter worth $697,276,000. Invesco Ltd. grew its stake in shares of Onsemi by 26.0% during the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after buying an additional 1,200,723 shares during the period. Norges Bank purchased a new position in shares of Onsemi in the 4th quarter valued at $418,102,000. Finally, Ameriprise Financial Inc. increased its stake in Onsemi by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock worth $397,108,000 after buying an additional 817,237 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.