Onsemi (NASDAQ:ON) Given New $62.00 Price Target at Mizuho

Onsemi (NASDAQ:ON - Free Report) had its price target trimmed by Mizuho from $71.00 to $62.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company's stock.

Several other research firms have also recently commented on ON. The Goldman Sachs Group lowered their target price on shares of Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Rosenblatt Securities restated a "neutral" rating and issued a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. UBS Group lowered their price target on Onsemi from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Truist Financial cut their price objective on Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 target price on shares of Onsemi in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.50.

Onsemi Stock Performance

Shares of Onsemi stock traded down $2.16 during trading on Monday, hitting $41.60. 2,373,315 shares of the stock were exchanged, compared to its average volume of 6,840,500. The stock has a market cap of $17.53 billion, a PE ratio of 11.48, a P/E/G ratio of 16.74 and a beta of 1.59. The stock's fifty day moving average is $49.20 and its 200 day moving average is $61.45. Onsemi has a 12 month low of $41.58 and a 12 month high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

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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 the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. As a group, sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Institutional Trading of Onsemi

Several institutional investors have recently made changes to their positions in the stock. Elequin Capital LP lifted its position in Onsemi by 108.3% in the 4th 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. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi during the fourth quarter worth $41,000. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi during the third quarter valued at $43,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Onsemi in the 4th quarter worth about $43,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Onsemi during the 4th quarter worth about $51,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.