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

Onsemi (NASDAQ:ON) had its target price decreased by Mizuho from $92.00 to $87.00 in a research note issued to investors on Tuesday, Benzinga reports. Mizuho currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued reports about the company. TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a buy rating on the stock in a report on Tuesday. Stifel Nicolaus lowered their price objective on shares of Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a research note on Thursday, April 18th. StockNews.com raised shares of Onsemi from a sell rating to a hold rating in a research note on Wednesday, February 14th. The Goldman Sachs Group decreased their price target on shares of Onsemi from $91.00 to $81.00 and set a buy rating on the stock in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company cut their price objective on Onsemi from $110.00 to $95.00 and set an overweight rating for the company in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $90.24.

Onsemi Price Performance

Shares of NASDAQ:ON traded up $0.36 during trading on Tuesday, reaching $70.37. The company had a trading volume of 6,515,239 shares, compared to its average volume of 7,550,528. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87. The firm has a market capitalization of $30.28 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 3.12 and a beta of 1.78. The firm’s fifty day moving average is $72.46 and its 200 day moving average is $74.92.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping 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 firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities analysts forecast that Onsemi will post 3.86 EPS for the current year.

Hedge Funds Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in shares of Onsemi by 199.8% in the third quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock worth $378,000 after buying an additional 2,707 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Onsemi by 16.3% during the third quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 410 shares during the period. Commonwealth Equity Services LLC grew its holdings in Onsemi by 9.5% during the third quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock valued at $5,082,000 after purchasing an additional 4,741 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Onsemi by 7.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock valued at $4,546,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Balboa Wealth Partners bought a new position in shares of Onsemi in the third quarter valued at approximately $212,000. Institutional investors own 97.70% of the company’s stock.

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.