Onsemi (NASDAQ:ON) Reaches New 52-Week Low – Here’s Why

Shares of Onsemi (NASDAQ:ON) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $52.80 and last traded at $53.76, with a volume of 664966 shares. The stock had previously closed at $53.94.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ON. BNP Paribas reduced their target price on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Robert W. Baird raised their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Loop Capital started coverage on Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. Mizuho set a $85.00 price target on Onsemi in a report on Friday, October 18th. Finally, The Goldman Sachs Group lowered their target price on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $81.70.

Onsemi Stock Down 0.2 %

The firm has a fifty day simple moving average of $63.22 and a 200-day simple moving average of $68.67. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 10.62 and a beta of 1.64. 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 (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $1.39 EPS. The company’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, sell-side analysts expect that Onsemi will post 4 EPS for the current year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently modified their holdings of ON. Capital Performance Advisors LLP bought a new stake in shares of Onsemi during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi during the 3rd quarter worth approximately $33,000. GHP Investment Advisors Inc. lifted its holdings in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Onsemi during the 4th quarter worth approximately $41,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Onsemi during the 3rd quarter worth approximately $43,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

About Onsemi

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.