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

Wells Fargo & Company assumed coverage on shares of Onsemi (NASDAQ:ON) in a report issued 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 price target suggests a potential upside of 24.41% from the company’s current price.

ON has been the subject of a number of other research reports. Bank of America lifted their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Loop Capital assumed coverage on Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Price Performance

Shares of ON opened at $68.32 on Friday. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The business’s fifty day moving average is $70.25 and its 200 day moving average is $71.79. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $29.09 billion, a P/E ratio of 16.95, a P/E/G ratio of 7.15 and a beta of 1.65.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share 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 business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business earned $1.39 EPS. The business’s revenue was down 19.2% on a year-over-year basis. Sell-side analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Onsemi in the third quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Onsemi in the third quarter worth about $33,000. GHP Investment Advisors Inc. raised its stake in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of Onsemi in the third quarter worth about $43,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 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.