Mizuho lowered the firm’s price target on On Semi (ON) to $62 from $68 and keeps an Outperform rating on the shares following Q3 results. The company continues to benefit from secular electric vehicle adoption, although growth has slowed, Mizuho told investors in a research note. The firm added that On Semi is well-positioned in Auto/Industrial with a growing data center business.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ON: