Onsemi (NASDAQ:ON) Given New $62.00 Price Target at Mizuho

Onsemi (NASDAQ:ON) had its price target dropped by investment analysts at Mizuho from $71.00 to $62.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s target price would indicate a potential upside of 35.74% from the company’s current price.

A number of other equities research analysts also recently weighed in on ON. Morgan Stanley dropped their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Truist Financial dropped their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. UBS Group decreased their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $49.00 target price on shares of Onsemi in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Stock Performance

Shares of ON traded up $1.89 during trading hours on Monday, hitting $45.67. The company had a trading volume of 1,784,998 shares, compared to its average volume of 9,350,520. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 16.74 and a beta of 1.59. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $50.00 and a 200-day moving average of $62.02. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08.

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 20.10% and a net margin of 22.21%. Equities analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Institutional investors and hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB boosted its position in shares of Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the last quarter. Cinctive Capital Management LP purchased a new position in Onsemi during the 3rd quarter worth $1,270,000. Blue Trust Inc. grew its stake in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 1,119 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Onsemi in the fourth quarter valued at about $515,000. Finally, Deltec Asset Management LLC bought a new position in shares of Onsemi during the fourth quarter valued at about $6,343,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.