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

Equities research analysts at Wells Fargo & Company started coverage on shares of Onsemi (NASDAQ:ON) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $85.00 price target on the semiconductor company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 24.41% from the company’s previous close.

Other analysts also recently issued research reports about the company. Roth Mkm lifted their price objective on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their target price on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Stock Up 1.5 %

Shares of ON opened at $68.32 on Friday. The business’s 50 day moving average is $70.25 and its 200 day moving average is $71.79. The company has a market capitalization of $29.09 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 7.15 and a beta of 1.65. Onsemi has a 12-month low of $59.34 and a 12-month 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.

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

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares in the last quarter. Van ECK Associates Corp increased its position in Onsemi by 26.4% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC increased its position in Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after buying an additional 380,471 shares in the last quarter. Finally, Earnest Partners LLC increased its position in Onsemi by 6.7% during the 1st quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock valued at $190,939,000 after buying an additional 161,987 shares in the last quarter. 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.