Wells Fargo & Company Cuts Onsemi (NASDAQ:ON) Price Target to $45.00

Onsemi (NASDAQ:ON - Free Report) had its target price reduced by Wells Fargo & Company from $60.00 to $45.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company's stock.

A number of other analysts have also recently commented on ON. Craig Hallum cut their target price on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a research note on Tuesday, February 11th. Roth Mkm decreased their target price on Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Citigroup dropped their price target on Onsemi from $52.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reissued a "neutral" rating and issued a $42.00 price objective on shares of Onsemi in a research note on Tuesday. Finally, Morgan Stanley dropped their target price on shares of Onsemi from $52.00 to $44.00 and set an "underweight" rating for the company in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Onsemi has a consensus rating of "Moderate Buy" and a consensus target price of $54.32.

Onsemi Price Performance

Shares of Onsemi stock traded up $1.21 during trading hours on Tuesday, reaching $40.98. The stock had a trading volume of 11,721,467 shares, compared to its average volume of 7,644,493. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $17.12 billion, a PE ratio of 11.29, a PEG ratio of 16.74 and a beta of 1.39. The stock's 50 day moving average is $39.72 and its 200 day moving average is $54.01.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Onsemi's revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. Equities analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ON. Costello Asset Management INC purchased a new position in shares of Onsemi in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC grew its holdings in Onsemi by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 320 shares in the last quarter. Elequin Capital LP increased its position in shares of Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 274 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi during the 4th quarter worth $41,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Onsemi during the first quarter worth $41,000. 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.