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

Onsemi (NASDAQ:ON) had its price target cut by Wells Fargo & Company from $80.00 to $60.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the company. Craig Hallum dropped their price objective on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday. Morgan Stanley dropped their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday. Robert W. Baird upped their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. 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. Finally, BNP Paribas dropped their price objective on Onsemi from $60.00 to $55.00 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.36.

Onsemi Trading Up 1.9 %

ON stock opened at $47.93 on Tuesday. The company has a market cap of $20.41 billion, a P/E ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $59.62 and a 200-day moving average of $67.18.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. As a group, equities research analysts expect that Onsemi will post 3.99 EPS for the current year.

Insider Transactions at Onsemi

In related 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 completion of the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, 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 is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of ON. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Onsemi by 268.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,163 shares of the semiconductor company’s stock valued at $230,000 after buying an additional 2,304 shares during the period. Exchange Traded Concepts LLC raised its stake in Onsemi by 675.6% in the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company’s stock valued at $273,000 after buying an additional 3,270 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Onsemi by 22.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company’s stock valued at $263,000 after buying an additional 657 shares during the period. CX Institutional raised its stake in Onsemi by 5.2% in the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after buying an additional 232 shares during the period. Finally, Creative Planning raised its stake in Onsemi by 35.9% in the third quarter. Creative Planning now owns 29,879 shares of the semiconductor company’s stock valued at $2,170,000 after buying an additional 7,888 shares during the period. 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.