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These Analysts Boost Price Targets On ON Semiconductor Following Q2 Results – Stocks to Watch
  • Fri. Dec 9th, 2022

These Analysts Boost Price Targets On ON Semiconductor Following Q2 Results

ByLisa Levin

Aug 2, 2022
These Analysts Boost Price Targets On ON Semiconductor Following Q2 Results

ON Semiconductor Corp ON) reported better-than-expected earnings for its second quarter.

The company also said it sees Q3 revenue of $2.07 billion – $2.17 billion, above the consensus of $2.02 billion. It expects non-GAAP EPS of $1.25 – $1.37, above the consensus of $1.21.

ON Semiconductor, however, shares fell 0.4% to $63.39 in the pre-market trading session.

Several analysts made changes to their price targets on ON Semiconductor following the release of results.

  • Needham raised price target on ON Semiconductor from $60 to $80. However, Needham analyst Rajvindra Gill maintained the stock with a Strong Buy.
  • Mizuho lifted boosted ON Semiconductor’s price target from $68 to $72. However, Mizuho analyst Vijay Rakesh maintained the stock with a Buy rating.
  • Citigroup boosted the price target on the stock from $73 to $75. However, Citigroup analyst Christopher Danely maintained ON Semiconductor with a Buy.
  • Susquehanna raised ON Semiconductor’s price target from $77 to $82. However, Susquehanna analyst Christopher Rolland maintained a Positive rating on the stock.
  • Goldman Sachs increased the price target on the stock $60 to $68. However, Goldman Sachs analyst Toshiya Hari maintained ON Semiconductor with a Buy.



Image and article originally from www.benzinga.com. Read the original article here.