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

Onsemi (NASDAQ:ON) had its target price lowered by Mizuho from $85.00 to $71.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on ON. Truist Financial restated a “hold” rating and issued a $60.00 price target (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. UBS Group decreased their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Citigroup decreased their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday. TD Cowen decreased their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.16.

Onsemi Stock Up 1.7 %

ON opened at $50.92 on Tuesday. The firm has a 50 day moving average price of $59.01 and a 200 day moving average price of $66.95. The company has a market cap of $21.68 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last posted its earnings results 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 return on equity of 22.38% and a net margin of 23.80%. Sell-side analysts expect that Onsemi will post 3.99 earnings per share for the current year.

Insider Activity at Onsemi

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

Institutional Investors Weigh In On Onsemi

Large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its position in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after buying an additional 82,614 shares during the period. Natixis Advisors LLC increased its position in Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after buying an additional 18,450 shares during the period. Cinctive Capital Management LP acquired a new stake in Onsemi in the third quarter worth $1,270,000. Blue Trust Inc. increased its position in Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after buying an additional 1,119 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of Onsemi during the fourth quarter valued at $515,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.