Onsemi (NASDAQ:ON) Hits New 1-Year Low – Should You Sell?

Onsemi (NASDAQ:ON)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $46.19 and last traded at $46.51, with a volume of 5099921 shares. The stock had previously closed at $47.38.

Wall Street Analysts Forecast Growth

ON has been the topic of several recent analyst reports. Roth Mkm dropped their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group dropped their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company dropped their target price on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Susquehanna dropped their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Two 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, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $67.12.

Onsemi Stock Performance

The firm’s 50-day simple moving average is $55.80 and its two-hundred day simple moving average is $65.39. The stock has a market capitalization of $19.83 billion, a PE ratio of 12.96, a PEG ratio of 16.74 and a beta of 1.61. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

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

Institutional Investors Weigh In On Onsemi

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Onsemi in the 4th quarter valued at $378,312,000. Bridgewater Associates LP lifted its stake in shares of Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after purchasing an additional 1,109,778 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Onsemi in the 4th quarter valued at $62,426,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.