Mizuho Cuts onsemi (NASDAQ:ON) Price Target to $110.00

Key Points

• Mizuho lowered onsemi’s price target to $110 from $125 but maintained an “outperform” rating, implying 34.8% upside from the stock’s previous close. The broader analyst consensus remains “Hold,” with a $100.28 target.
• onsemi’s second-quarter results exceeded expectations, with revenue rising 9.2% year over year to $1.60 billion and EPS of $0.74 versus the $0.72 consensus. Third-quarter EPS guidance of $0.81–$0.93 was generally above expectations.
• AI demand is emerging as a major growth driver: management expects 2026 data-center revenue to more than double and is prioritizing AI-related shipments, though automotive and industrial markets remain near-term headwinds.

onsemi (NASDAQ:ON - Get Free Report) had its price target lowered by equities researchers at Mizuho from $125.00 to $110.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Mizuho's target price points to a potential upside of 34.80% from the stock's previous close.

Several other research firms have also recently commented on ON. Zacks Research cut onsemi from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Susquehanna lifted their price objective on shares of onsemi from $140.00 to $150.00 and gave the company a "positive" rating in a research report on Thursday, July 9th. Stifel Nicolaus boosted their price objective on shares of onsemi from $90.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, June 24th. Rosenblatt Securities restated a "neutral" rating and set a $85.00 price objective on shares of onsemi in a research report on Tuesday. Finally, Morgan Stanley raised their target price on shares of onsemi from $85.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. Fourteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, onsemi currently has a consensus rating of "Hold" and a consensus target price of $100.28.

onsemi Stock Performance

Shares of ON traded up $1.20 during mid-day trading on Tuesday, reaching $81.60. 14,393,043 shares of the company's stock were exchanged, compared to its average volume of 10,669,448. The business's fifty day simple moving average is $104.28 and its 200-day simple moving average is $85.07. The stock has a market capitalization of $31.98 billion, a PE ratio of 57.99, a price-to-earnings-growth ratio of 0.90 and a beta of 2.03. onsemi has a 52-week low of $44.56 and a 52-week high of $134.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.87 and a quick ratio of 3.14.

onsemi (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, August 3rd. The semiconductor company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. onsemi had a net margin of 9.46% and a return on equity of 12.79%. The business's revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. On average, equities research analysts expect that onsemi will post 3.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ON. Pictet Asset Management Holding SA grew its holdings in onsemi by 38.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,981,981 shares of the semiconductor company's stock valued at $215,624,000 after purchasing an additional 1,112,774 shares in the last quarter. Twin Capital Management Inc. purchased a new stake in shares of onsemi during the fourth quarter worth about $585,000. Carmel Capital Partners LLC lifted its stake in shares of onsemi by 119.3% in the fourth quarter. Carmel Capital Partners LLC now owns 73,416 shares of the semiconductor company's stock worth $3,975,000 after acquiring an additional 39,944 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings in onsemi by 2,670.6% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 47,100 shares of the semiconductor company's stock valued at $2,550,000 after purchasing an additional 45,400 shares during the last quarter. Finally, VCI Wealth Management LLC purchased a new position in onsemi in the fourth quarter valued at about $1,276,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported second-quarter revenue of $1.604 billion, up 9% year over year, while adjusted EPS of $0.74 exceeded the $0.72 consensus estimate. Gross margins also improved, and free cash flow surged to $425.4 million. onsemi Reports Second Quarter 2026 Results
• Positive Sentiment: Management said AI-related demand is accelerating, with 2026 data-center revenue expected to more than double from last year. The company is prioritizing AI data-center chip shipments, even when that means delaying some automotive deliveries, highlighting a favorable change in its product mix. onsemi Shifts Capacity to AI Data Centers
• Positive Sentiment: Third-quarter guidance was generally above expectations, calling for adjusted EPS of $0.81-$0.93 and revenue of approximately $1.65-$1.75 billion. onsemi also repurchased $332 million of stock during the quarter and highlighted its planned Synaptics acquisition and expanded role in NVIDIA’s MGX ecosystem as longer-term growth initiatives.
• Neutral Sentiment: Analysts remain constructive but cautious. Needham, Wells Fargo and B. Riley lowered their price targets while retaining Buy or Overweight ratings, whereas Goldman Sachs maintained a Hold rating and a $95 target. Baird raised its target to $108 but kept a Neutral rating, reflecting concerns about competitive pressure and the stock’s risk-reward profile. Analyst Reaction to onsemi Results
• Negative Sentiment: Insiders have reported 12 open-market sales and no purchases over the past six months, including sales by the CEO and CFO. Automotive and industrial markets also remain near-term headwinds as capacity is redirected toward faster-growing AI applications. onsemi Near-Term Headwinds, Long-Term Upside

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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