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

Onsemi (NASDAQ:ON - Free Report) had its price objective cut by Mizuho from $85.00 to $71.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the semiconductor company's stock.

A number of other brokerages have also recently issued reports on ON. JPMorgan Chase & Co. decreased their price objective on shares of Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday. Susquehanna reduced their price target on shares of Onsemi from $80.00 to $70.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. Jefferies Financial Group reduced their price target on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating for the company in a report on Monday. BNP Paribas reduced their price target on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $75.00 price target on shares of Onsemi in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.16.

Onsemi Trading Up 1.7 %

NASDAQ ON traded up $0.88 during trading on Tuesday, reaching $51.80. 3,859,918 shares of the stock traded hands, compared to its average volume of 9,296,862. The firm has a market cap of $22.05 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The stock's 50-day moving average price is $59.01 and its 200 day moving average price is $66.95. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16.

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Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data 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 net margin of 23.80% and a return on equity of 22.38%. Analysts predict that Onsemi will post 3.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company's stock, valued at $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Onsemi

Several large investors have recently modified their holdings of ON. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Onsemi by 268.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,163 shares of the semiconductor company's stock valued at $230,000 after purchasing an additional 2,304 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Onsemi by 675.6% in the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company's stock valued at $273,000 after acquiring an additional 3,270 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Onsemi by 22.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company's stock valued at $263,000 after acquiring an additional 657 shares in the last quarter. CX Institutional grew its stake in shares of Onsemi by 5.2% in the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company's stock valued at $340,000 after acquiring an additional 232 shares in the last quarter. Finally, Creative Planning grew its stake in shares of Onsemi by 35.9% in the third quarter. Creative Planning now owns 29,879 shares of the semiconductor company's stock valued at $2,170,000 after acquiring an additional 7,888 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

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.