Onsemi (NASDAQ:ON) Hits New 52-Week Low – Here’s What Happened

Onsemi (NASDAQ:ON)’s share price hit a new 52-week low during trading on Wednesday . The stock 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

Several equities analysts have commented on the stock. The Goldman Sachs Group dropped their target price on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. KeyCorp cut their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Loop Capital began coverage on Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and an average target price of $84.43.

Onsemi Trading Down 7.5 %

The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $22.97 billion, a PE ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64. The stock has a 50 day moving average price of $67.20 and a 200-day moving average price of $70.35.

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

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

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