Mizuho Cuts Onsemi (NASDAQ:ON) Price Target to $62.00

Onsemi (NASDAQ:ON) had its price target trimmed by Mizuho from $71.00 to $62.00 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. Roth Capital set a $60.00 target price on Onsemi in a research report on Friday, March 7th. B. Riley decreased their price objective on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Citigroup dropped their target price on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Susquehanna lowered their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research report on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of Onsemi in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $45.04 on Monday. 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 company has a 50-day moving average price of $49.39 and a 200 day moving average price of $61.58. Onsemi has a 52 week low of $41.59 and a 52 week high of $80.08. The company has a market cap of $18.98 billion, a P/E ratio of 12.41, a PEG ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Research analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Institutional Trading of Onsemi

A number of hedge funds have recently made changes to their positions in ON. Pathstone Holdings LLC raised its position in shares of Onsemi by 4.3% in the 3rd quarter. Pathstone Holdings LLC now owns 43,659 shares of the semiconductor company’s stock valued at $3,170,000 after purchasing an additional 1,797 shares in the last quarter. Nwam LLC bought a new position in Onsemi during the 3rd quarter valued at $222,000. Larson Financial Group LLC grew its holdings in Onsemi by 28.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,816 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 406 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Onsemi by 6.2% in the 3rd quarter. Fisher Asset Management LLC now owns 318,633 shares of the semiconductor company’s stock worth $23,136,000 after purchasing an additional 18,723 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Onsemi by 45.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 21,540 shares of the semiconductor company’s stock valued at $1,564,000 after purchasing an additional 6,681 shares in the last quarter. Hedge funds and other institutional investors 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.