Mizuho Forecasts Strong Price Appreciation for ON Semiconductor (NASDAQ:ON) Stock

ON Semiconductor (NASDAQ:ONGet Free Report) had its price target increased by stock analysts at Mizuho from $60.00 to $72.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price target would suggest a potential upside of 36.03% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Robert W. Baird dropped their price target on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Roth Capital restated a “buy” rating and issued a $70.00 price target (up from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Stifel Nicolaus dropped their price target on ON Semiconductor from $52.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Needham & Company LLC dropped their price target on ON Semiconductor from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, B. Riley restated a “neutral” rating and issued a $56.00 price target (up from $40.00) on shares of ON Semiconductor in a research note on Wednesday, June 18th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.08.

Read Our Latest Research Report on ON Semiconductor

ON Semiconductor Trading Down 1.3%

Shares of NASDAQ:ON opened at $52.93 on Thursday. The stock has a 50 day moving average of $45.39 and a 200 day moving average of $48.84. The company has a market cap of $22.12 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 4.37 and a beta of 1.39. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. ON Semiconductor has a 12-month low of $31.04 and a 12-month high of $80.08.

ON Semiconductor (NASDAQ:ONGet Free Report) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $1.08 EPS. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. As a group, equities research analysts expect that ON Semiconductor will post 2.6 EPS for the current year.

Institutional Trading of ON Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of ON. Costello Asset Management INC purchased a new stake in ON Semiconductor during the 1st quarter valued at $26,000. Golden State Wealth Management LLC raised its holdings in ON Semiconductor by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 320 shares during the period. Elequin Capital LP raised its holdings in ON Semiconductor by 108.3% during the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 274 shares during the period. Opal Wealth Advisors LLC bought a new position in ON Semiconductor in the 1st quarter valued at $41,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in ON Semiconductor in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

ON Semiconductor Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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