Onsemi (NASDAQ:ON) Price Target Cut to $62.00 by Analysts at Mizuho

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

A number of other equities research analysts have also issued reports on ON. Stifel Nicolaus dropped their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Truist Financial decreased their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Citigroup dropped their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. UBS Group reduced their price objective on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Susquehanna dropped their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Performance

ON opened at $45.68 on Monday. The company has a market cap of $19.25 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 16.74 and a beta of 1.59. The firm’s fifty day simple moving average is $49.79 and its two-hundred day simple moving average is $61.85. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 52-week low of $41.59 and a 52-week high of $80.08.

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

Institutional Investors Weigh In On Onsemi

A number of hedge funds have recently added to or reduced their stakes in ON. 111 Capital acquired a new stake in Onsemi in the 4th quarter valued at about $257,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Onsemi by 15.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company’s stock worth $1,070,000 after buying an additional 2,209 shares during the period. PKO Investment Management Joint Stock Co purchased a new stake in shares of Onsemi during the 4th quarter worth $3,783,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Onsemi during the fourth quarter worth $17,873,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Onsemi in the fourth quarter valued at $4,640,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.