Investors Buy Large Volume of Put Options on Onsemi (NASDAQ:ON)

Onsemi (NASDAQ:ON) saw some unusual options trading activity on Tuesday. Stock investors bought 34,266 put options on the stock. This represents an increase of 58% compared to the average daily volume of 21,639 put options.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ON shares. B. Riley reduced their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus decreased their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Jefferies Financial Group lowered their target price on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Loop Capital assumed coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Mizuho reduced their target price on Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.85.

Onsemi Price Performance

Shares of Onsemi stock traded down $1.87 on Tuesday, hitting $42.29. 2,837,138 shares of the company traded hands, compared to its average volume of 6,773,670. Onsemi has a 12-month low of $41.86 and a 12-month high of $82.65. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company has a market cap of $17.82 billion, a P/E ratio of 11.64, a P/E/G ratio of 16.74 and a beta of 1.59. The firm’s 50-day simple moving average is $53.59 and its 200 day simple moving average is $64.25.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. Analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in shares of Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the period. Natixis Advisors LLC increased its position in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares during the period. Cinctive Capital Management LP bought a new position in Onsemi in the 3rd quarter worth $1,270,000. Blue Trust Inc. lifted its position in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 1,119 shares during the period. Finally, Oak Thistle LLC purchased a new position in shares of Onsemi during the fourth quarter valued at about $515,000. Hedge funds and other institutional investors 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.