Onsemi (NASDAQ:ON) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Onsemi (NASDAQ:ON) in a research report sent to investors on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $85.00 price target on the semiconductor company’s stock.

A number of other analysts have also recently commented on ON. JPMorgan Chase & Co. upped their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen lowered their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. BNP Paribas reduced their price target on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Roth Mkm lifted their target price on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Price Performance

Shares of ON stock opened at $72.39 on Friday. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $70.25 and its 200-day moving average is $71.81. The firm has a market capitalization of $30.82 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 7.47 and a beta of 1.65.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. Sell-side analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Natixis Advisors LLC increased its position in shares of Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after purchasing an additional 18,450 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Onsemi by 690.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after buying an additional 88,496 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Onsemi during the 1st quarter worth approximately $808,000. Comerica Bank boosted its position in shares of Onsemi by 21.1% during the 1st quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock worth $7,265,000 after acquiring an additional 17,198 shares in the last quarter. Finally, Deltec Asset Management LLC bought a new position in Onsemi in the second quarter valued at approximately $1,212,000. 97.70% of the stock is owned by institutional investors.

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.