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

Onsemi (NASDAQ:ON) had its target price dropped by equities research analysts at Mizuho from $71.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective suggests a potential upside of 35.74% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company cut their price target on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Jefferies Financial Group cut their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Craig Hallum lowered their price target on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. Finally, The Goldman Sachs Group dropped their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Onsemi Stock Performance

Shares of NASDAQ ON traded up $1.89 during mid-day trading on Monday, reaching $45.67. 1,784,998 shares of the company’s stock were exchanged, compared to its average volume of 9,350,520. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The firm has a 50-day moving average price of $50.00 and a two-hundred day moving average price of $62.02. 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 52 week low of $41.59 and a 52 week high of $80.08.

Onsemi (NASDAQ:ON) last released its 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%. Analysts predict that Onsemi will post 2.6 EPS for the current year.

Institutional Inflows and Outflows

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

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.