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

Onsemi (NASDAQ:ON) had its target price dropped by equities research analysts at Wells Fargo & Company from $80.00 to $60.00 in a research note 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 24.93% from the stock’s previous close.

A number of other analysts have also commented on ON. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a report on Friday. 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. Stifel Nicolaus decreased their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday. Jefferies Financial Group cut their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday. Finally, UBS Group dropped their price objective on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.68.

Onsemi Trading Up 2.1 %

Shares of Onsemi stock traded up $0.99 on Tuesday, hitting $48.03. The stock had a trading volume of 4,573,657 shares, compared to its average volume of 9,316,722. Onsemi has a twelve month low of $46.57 and a twelve month 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. The stock has a 50 day moving average of $60.06 and a 200 day moving average of $67.34. The firm has a market capitalization of $20.45 billion, a P/E ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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%. Sell-side analysts expect that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi in the third quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Onsemi in the third quarter worth $33,000. GHP Investment Advisors Inc. boosted its position in shares of Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 514 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Onsemi in the 4th quarter worth about $41,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi during the 3rd quarter valued at about $43,000. 97.70% of the stock is currently owned by 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.