ON Semiconductor (NASDAQ:ON) Given New $72.00 Price Target at Mizuho

ON Semiconductor (NASDAQ:ON) had its price objective hoisted by Mizuho from $60.00 to $72.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other brokerages have also commented on ON. Roth Capital reissued a “buy” rating and issued a $70.00 price objective (up previously from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. KeyCorp cut their price target on shares of ON Semiconductor from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley started coverage on shares of ON Semiconductor in a research note on Monday, May 12th. They set an “equal weight” rating and a $39.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on ON Semiconductor from $60.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Finally, UBS Group dropped their target price on ON Semiconductor from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, ON Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $56.08.

ON Semiconductor Stock Performance

Shares of ON stock opened at $53.65 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95. ON Semiconductor has a 52 week low of $31.04 and a 52 week high of $80.08. The company’s 50 day moving average price is $45.02 and its two-hundred day moving average price is $48.93. The company has a market capitalization of $22.42 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 4.38 and a beta of 1.39.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. During the same period last year, the business posted $1.08 earnings per share. On average, analysts expect that ON Semiconductor will post 2.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Costello Asset Management INC acquired a new stake in shares of ON Semiconductor during the 1st quarter worth $26,000. Golden State Wealth Management LLC grew its stake in ON Semiconductor by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock worth $29,000 after buying an additional 320 shares in the last quarter. Elequin Capital LP grew its stake in ON Semiconductor by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after buying an additional 274 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in ON Semiconductor in the 1st quarter valued at about $41,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of ON Semiconductor in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

ON Semiconductor 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.