Mizuho Trims Onsemi (NASDAQ:ON) Target Price to $87.00

Onsemi (NASDAQ:ON) had its target price dropped by Mizuho from $92.00 to $87.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Mizuho’s target price would indicate a potential upside of 26.07% from the company’s previous close.

Other equities analysts also recently issued reports about the company. TD Cowen decreased their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Truist Financial reduced their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. The Goldman Sachs Group reduced their price objective on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, Susquehanna reduced their price objective on Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $90.24.

Onsemi Stock Performance

Shares of ON stock opened at $69.01 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $72.80 and a two-hundred day moving average of $74.99. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a market cap of $29.66 billion, a P/E ratio of 14.21, a PEG ratio of 7.03 and a beta of 1.80.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. Onsemi’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, analysts anticipate that Onsemi will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ON. Capital World Investors bought a new position in shares of Onsemi in the fourth quarter valued at $697,276,000. Norges Bank purchased a new stake in shares of Onsemi in the fourth quarter valued at $418,102,000. Invesco Ltd. lifted its holdings in shares of Onsemi by 26.0% in the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after purchasing an additional 1,200,723 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onsemi by 55.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock valued at $195,124,000 after purchasing an additional 828,944 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Onsemi by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after purchasing an additional 817,237 shares in the last quarter. 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.