Mizuho Cuts Onsemi (NASDAQ:ON) Price Target to $71.00

Onsemi (NASDAQ:ON) had its price target reduced by stock analysts at Mizuho from $85.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective would indicate a potential upside of 50.94% from the company’s current price.

A number of other analysts have also weighed in on ON. Truist Financial restated a “hold” rating and set a $60.00 price objective (down from $85.00) on shares of Onsemi in a research note on Friday, January 10th. BNP Paribas decreased their price objective on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Susquehanna cut their target price on Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Roth Mkm restated a “buy” rating and issued a $100.00 price target on shares of Onsemi in a research note on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price objective on Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

Onsemi Price Performance

ON stock opened at $47.04 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm has a 50 day moving average price of $60.06 and a 200-day moving average price of $67.34. Onsemi has a 52-week low of $46.57 and a 52-week high of $85.16. The firm has a market capitalization of $20.03 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 10.27 and a beta of 1.62.

Onsemi (NASDAQ:ON) last announced 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 net margin of 23.80% and a return on equity of 22.38%. Equities research analysts forecast that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB grew 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 worth $25,724,000 after purchasing an additional 82,614 shares in the last quarter. Natixis Advisors LLC grew its holdings in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares in the last quarter. Cinctive Capital Management LP purchased a new position in shares of Onsemi in the third quarter worth $1,270,000. Blue Trust Inc. boosted its position in shares of Onsemi by 16.1% during the fourth 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 during the last quarter. Finally, Oak Thistle LLC purchased a new position in Onsemi during the fourth quarter valued at $515,000. 97.70% of the stock is owned by institutional investors.

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.