Wells Fargo & Company Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its target price lowered by research analysts at Wells Fargo & Company from $80.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 19.86% from the company’s current price.

ON has been the subject of several other research reports. Jefferies Financial Group dropped their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley reduced their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday. TD Cowen dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Stifel Nicolaus reduced their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Stock Up 4.4 %

Shares of NASDAQ ON opened at $50.06 on Tuesday. The stock has a market capitalization of $21.32 billion, a P/E ratio of 12.42, a PEG ratio of 10.27 and a beta of 1.61. The stock’s fifty day moving average is $59.30 and its 200 day moving average is $67.06. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Sell-side analysts forecast that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after acquiring an additional 344,354 shares during the period. Geode Capital Management LLC lifted its stake in Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares during the last quarter. Norges Bank bought a new position in Onsemi during the fourth quarter valued at $378,312,000. Allspring Global Investments Holdings LLC increased its position in Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after buying an additional 1,037,624 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the period. 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.