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Mizuho (NYSE:MFG) raised its price target on ON Semiconductor (NASDAQ:ON) stock to $60.00 from $52.00 on Wednesday, maintaining an Outperform rating following meetings with the company’s executives. According to InvestingPro data, the company currently trades at a P/E ratio of 35.4x, with 13 analysts recently revising their earnings expectations upward for the upcoming period.
The investment firm cited expectations that the second quarter will mark the bottom for automotive demand, with overall second-half 2025 demand projected to improve compared to the first half. ON Semiconductor is seeing strength in China as it ramps up design wins in IGBTs and silicon carbide (SiC) components. The company maintains strong financial health with a current ratio of 4.95x, indicating robust liquidity to support its growth initiatives.
The company’s new family of TreoFETs is driving additional design wins, with some traction in industrial applications and initial production ramps expected to start in 2026-2027. These developments keep ON Semiconductor on track to achieve $1 billion in revenue from these products by 2030.
Silicon carbide remains a strategic end-market for the company in automotive applications and data center power portfolios, though Mizuho acknowledged near-term challenges persist in this segment. The firm noted ON Semiconductor’s power solutions span from 120V to 48V and 800V to 12V/53V AC-DC/DC-DC for AI server rack power.
ON Semiconductor executives indicated that gross margins are expected to remain flat in the second half of 2025, while 2026 will see a higher tax rate. The company plans to use 100% of its free cash flow for share buybacks, continuing its aggressive share repurchase strategy. InvestingPro analysis reveals the company generated $1.4 billion in levered free cash flow over the last twelve months, supporting this shareholder-friendly initiative.
In other recent news, MINISO Group Holding Limited has made significant regulatory filings with the U.S. Securities and Exchange Commission. The company submitted a Form 6-K for June 2025, which includes updates on financial and operational activities, as well as a voluntary announcement clarifying media articles about a potential spin-off listing. Meanwhile, JBS N.V. has officially changed its name from JBS B.V., as confirmed in a Form 6-K filing with the SEC. This change, effective since November 2022, is part of the company’s corporate updates. JBS S.A. also filed a 6-K report, signed by its Chief Financial and Investment Relations Officer, to maintain transparency about its operations. Additionally, Bilibili Inc (NASDAQ:BILI). has filed a Form 6-K detailing changes in its authorized share capital and issued shares for May 2025. This filing is part of Bilibili’s compliance with regulatory requirements in both the U.S. and Hong Kong. Each of these companies continues to fulfill their obligations as foreign private issuers under the Securities Exchange Act of 1934.
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