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

Onsemi (NASDAQ:ON) had its price target reduced by Mizuho from $71.00 to $62.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Several other research firms also recently issued reports on ON. JPMorgan Chase & Co. cut their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Roth Mkm reduced their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. B. Riley lowered their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company cut their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, KeyCorp decreased their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Stock Down 0.6 %

ON opened at $45.04 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08. The stock’s 50 day moving average price is $49.39 and its 200 day moving average price is $61.58. The stock has a market cap of $18.98 billion, a P/E ratio of 12.41, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last announced 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%. As a group, research analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On Onsemi

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Onsemi in the fourth quarter valued at about $378,312,000. Bridgewater Associates LP lifted its holdings in Onsemi by 8,367.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after buying an additional 1,109,778 shares in the last quarter. Janus Henderson Group PLC boosted its position in Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after buying an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Onsemi during the fourth quarter valued at $62,426,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.