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

Onsemi (NASDAQ:ON - Free Report) had its price objective decreased by Wells Fargo & Company from $110.00 to $95.00 in a report issued on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company's stock.

Several other analysts have also weighed in on the stock. Susquehanna reiterated a positive rating and issued a $90.00 price objective on shares of Onsemi in a research note on Monday, April 8th. Rosenblatt Securities reiterated a neutral rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. Stifel Nicolaus decreased their price target on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a research note on Thursday, April 18th. StockNews.com upgraded shares of Onsemi from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, TD Cowen boosted their price target on shares of Onsemi from $80.00 to $90.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $95.28.

Onsemi Price Performance

Onsemi stock traded up $1.03 during trading hours on Tuesday, reaching $61.68. 6,890,262 shares of the stock were exchanged, compared to its average volume of 7,314,261. The company has a market cap of $26.51 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The stock has a 50 day moving average of $74.26 and a two-hundred day moving average of $76.05.

Onsemi (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.04. The firm 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 business's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. Equities analysts expect that Onsemi will post 4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Provence Wealth Management Group bought a new position in shares of Onsemi in the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Onsemi in the fourth quarter worth approximately $32,000. Private Wealth Management Group LLC bought a new position in shares of Onsemi in the fourth quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC bought a new position in shares of Onsemi in the fourth quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. bought a new position in shares of Onsemi in the third quarter worth approximately $38,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.