Mizuho lowered the firm’s price target on ON Semiconductor to $98 from $120 and keeps a Buy rating on the shares post the Q3 report. The company is seeing broad auto weakness with inventory and demand, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ON:
- AVGO vs. ON: Which Chip Stock is the Better Buy?
- TSLA, FSR, RIVN: What Pulled These EV Stocks Down on Monday?
- ON Semiconductor downgraded to Neutral from Outperform at Baird
- ON Semiconductor Corporation Reports Earnings: Did it Beat Estimate Forecasts?
- Earnings, Guidance, Analysts Send On Semiconductory (NASDAQ:ON) Plummeting