Onsemi (NASDAQ:ON) Reaches New 1-Year Low – Here’s Why

Onsemi (NASDAQ:ON)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $37.53 and last traded at $37.24, with a volume of 1869022 shares traded. The stock had previously closed at $40.76.

Analyst Ratings Changes

Several analysts have issued reports on the company. B. Riley lowered their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Roth Mkm lowered their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. The Goldman Sachs Group cut their target price on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Mizuho lowered their price target on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Finally, Morgan Stanley cut their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Onsemi Stock Performance

The company’s 50-day moving average price is $47.20 and its two-hundred day moving average price is $60.15. The stock has a market cap of $14.20 billion, a PE ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

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

Institutional Investors Weigh In On Onsemi

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Onsemi by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after purchasing an additional 344,354 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Onsemi by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after buying an additional 1,041,989 shares during the period. Geode Capital Management LLC lifted its stake in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares during the last quarter. Norges Bank purchased a new stake in Onsemi during the 4th quarter valued at about $378,312,000. Finally, Dimensional Fund Advisors LP grew its position in Onsemi by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after acquiring an additional 771,610 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.