Chips Get Boost, Insurance Takes Hit

Wells Fargo analyst Joe Quatrochi raised targets across three semiconductor names on Monday. ON Semiconductor got the most aggressive lift — target up to $140 from $115. Texas Instruments moved to $300 from $260. NXP Semiconductors climbed to $305 from $265. All three retain Hold or Buy ratings.

ON Semi carries 8.7% short interest as a % of free float. That's notable given the bullish target revision. A continued re-rating could pressure short sellers.

Ciena Corporation picked up a new analyst recommendation. The networking gear maker already holds 13 Buy ratings versus just one Sell. Its average target sits near $565.

On the downside, UBS trimmed targets on two insurance names. Willis Towers Watson fell to $374 from $400. Marsh & McLennan dropped sharply to $203 from $230. Both keep Buy ratings but the cuts signal near-term caution.

Prudential Financial faced a consensus downgrade. The sell-side shifted one vote from Hold to Sell.

Hasbro saw Wells Fargo cut its target to $85 from $92. The toy maker holds 12 Sell ratings with zero Buys — the most bearish setup in today's batch.