Mizuho analyst Vijay Rakesh lowered the firm’s price target on On Semi (ON) to $62 from $71 and keeps an Outperform rating on the shares. The firm says that with softening auto and electrical vehicle trends, it updated its analog outlook for 2025 to downside and highlights elevated demand uncertainty. Mizuho sees some downside risk to auto semis with tariffs. However, it declining inventories and outlook clarity could set up a better second half of 2025, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ON:
- On Semi management approves recognition of $600M-$700M impairment charge
- Stock Shake-Up: ON Semiconductor, General Dynamics, Digital Turbine, Biogen, Cleveland-Cliffs
- On Semi releases Hyperlux ID family
- On Semi goes public with $35.10 per share bid for Allegro MicroSystems
- On has ‘modest room’ to up Allegro bid, says Roth MKM