ON Semi (ON) Receives a Buy from Mizuho Securities

Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on ON Semi (ONResearch Report) today and set a price target of $25. The company’s shares opened today at $22.61.

Rakesh observed:

“We believe it underscores ON’s confidence in the L-T roadmap as it rides multiple new drivers including ADAS, EV, 5G, server content growth and Wi-Fi. Reiterating our Buy rating and $25 PT. No change to estimates. ON reports earnings Apr-29 before the open.”

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 23.4% and a 65.2% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.

ON Semi has an analyst consensus of Moderate Buy, with a price target consensus of $25.38, which is a 12.3% upside from current levels. In a report released today, Needham also maintained a Buy rating on the stock with a $27 price target.

See today’s analyst top recommended stocks >>

Based on ON Semi’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $166 million. In comparison, last year the company had a net profit of $140 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group.

Leave a Reply

Your email address will not be published. Required fields are marked *