Mizuho Issues Positive Forecast for ON Semiconductor (NASDAQ:ON) Stock Price

ON Semiconductor (NASDAQ:ON) had its price objective hoisted by Mizuho from $52.00 to $60.00 in a report released on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the semiconductor company’s stock.

Several other research analysts also recently weighed in on ON. Needham & Company LLC dropped their target price on shares of ON Semiconductor from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Citigroup decreased their price objective on shares of ON Semiconductor from $52.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Loop Capital cut their target price on shares of ON Semiconductor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. KGI Securities began coverage on ON Semiconductor in a report on Friday, May 23rd. They issued a “neutral” rating for the company. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $42.00 price target on shares of ON Semiconductor in a report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.62.

ON Semiconductor Stock Performance

Shares of NASDAQ ON opened at $52.82 on Wednesday. ON Semiconductor has a 1 year low of $31.04 and a 1 year high of $80.08. The firm has a market cap of $22.07 billion, a P/E ratio of 36.68, a PEG ratio of 4.26 and a beta of 1.39. The stock has a fifty day moving average price of $43.53 and a two-hundred day moving average price of $49.29. 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 (NASDAQ:ON) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. Research analysts forecast that ON Semiconductor will post 2.6 EPS for the current fiscal year.

Institutional Investors Weigh In On ON Semiconductor

A number of large investors have recently added to or reduced their stakes in the stock. Costello Asset Management INC acquired a new position in ON Semiconductor in the 1st quarter valued at $26,000. Golden State Wealth Management LLC boosted its holdings 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 valued at $29,000 after acquiring an additional 320 shares during the period. Elequin Capital LP grew its position in shares of ON Semiconductor by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of ON Semiconductor in the first quarter valued at about $41,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of ON Semiconductor in the fourth quarter worth about $43,000. Institutional investors own 97.70% of the company’s stock.

About ON Semiconductor

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.