Onsemi (NASDAQ:ON) Shares Gap Down – Here’s What Happened

Onsemi (NASDAQ:ON) gapped down prior to trading on Thursday . The stock had previously closed at $39.20, but opened at $36.58. Onsemi shares last traded at $35.37, with a volume of 2,268,470 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a report on Thursday, February 27th. Citigroup decreased their price target on Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday. Wells Fargo & Company dropped their price objective on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Benchmark reduced their target price on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.46.

Onsemi Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock has a 50 day moving average price of $44.79 and a 200-day moving average price of $58.43. The stock has a market capitalization of $14.81 billion, a P/E ratio of 9.66, a PEG ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. As a group, research analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ON. Elequin Capital LP lifted its position in Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 274 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Onsemi during the 4th quarter valued at about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Onsemi during the 4th quarter valued at about $43,000. Synergy Asset Management LLC purchased a new position in shares of Onsemi during the fourth quarter valued at approximately $51,000. Finally, Plato Investment Management Ltd bought a new position in Onsemi during the fourth quarter valued at approximately $51,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.