Onsemi (NASDAQ:ON) Sets New 1-Year Low – Here’s What Happened

Onsemi (NASDAQ:ON)’s share price reached a new 52-week low on Wednesday . The company traded as low as $58.76 and last traded at $58.77, with a volume of 5033411 shares. The stock had previously closed at $62.73.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and issued a $100.00 price target on shares of Onsemi in a report on Thursday, December 12th. Wells Fargo & Company started coverage on shares of Onsemi in a research note on Friday, November 22nd. They set an “overweight” rating and a $85.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.43.

Onsemi Price Performance

The firm has a market cap of $22.97 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. The stock has a 50 day simple moving average of $67.20 and a two-hundred day simple moving average of $70.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period last year, the business earned $1.39 earnings per share. Sell-side analysts expect that Onsemi will post 4 earnings per share for the current year.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onsemi

Several large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Onsemi during the third quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi during the third quarter worth about $33,000. GHP Investment Advisors Inc. raised its stake in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the period. Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi in the 3rd quarter valued at approximately $43,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Onsemi by 42.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock worth $65,000 after buying an additional 269 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.