ON Semiconductor (NASDAQ:ON) Price Target Raised to $72.00 at Mizuho

ON Semiconductor (NASDAQ:ON - Get Free Report) had its price target raised by stock analysts at Mizuho from $60.00 to $72.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the semiconductor company's stock. Mizuho's target price indicates a potential upside of 34.20% from the stock's current price.

A number of other research firms have also recently issued reports on ON. Rosenblatt Securities restated a "neutral" rating and set a $42.00 price target on shares of ON Semiconductor in a report on Tuesday, May 6th. Roth Capital restated a "buy" rating and set a $70.00 target price (up previously from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Cantor Fitzgerald initiated coverage on ON Semiconductor in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price target on the stock. KGI Securities initiated coverage on ON Semiconductor in a research report on Friday, May 23rd. They issued a "neutral" rating for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, ON Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.08.

ON Semiconductor Stock Down 0.2%

NASDAQ:ON traded down $0.09 during trading hours on Thursday, reaching $53.65. The company's stock had a trading volume of 6,879,274 shares, compared to its average volume of 8,234,389. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 4.38 and a beta of 1.39. ON Semiconductor has a one year low of $31.04 and a one year high of $80.08. The business's 50-day moving average is $44.64 and its 200-day moving average is $49.03.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The firm's revenue was down 22.4% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. Equities research analysts predict that ON Semiconductor will post 2.6 EPS for the current year.

Institutional Investors Weigh In On ON Semiconductor

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new position in ON Semiconductor during the 4th quarter worth about $378,312,000. Baillie Gifford & Co. bought a new stake in shares of ON Semiconductor during the first quarter valued at approximately $219,001,000. Pacer Advisors Inc. increased its holdings in shares of ON Semiconductor by 2,735.5% in the first quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company's stock valued at $87,330,000 after purchasing an additional 2,070,529 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in ON Semiconductor by 26.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock worth $203,462,000 after purchasing an additional 1,055,461 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in ON Semiconductor by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after buying an additional 1,041,989 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

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.