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

Onsemi (NASDAQ:ON) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $58.76 and last traded at $58.77, with a volume of 5033411 shares traded. The stock had previously closed at $62.73.

Wall Street Analysts Forecast Growth

ON has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Robert W. Baird raised their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BNP Paribas reduced their price objective on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, Mizuho set a $85.00 target price on Onsemi in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Price Performance

The stock’s fifty day moving average price is $67.75 and its 200-day moving average price is $70.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a market cap of $24.90 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. Equities research analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Insider Transactions at Onsemi

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

Institutional Trading of Onsemi

Several large investors have recently added to or reduced their stakes in ON. Nordea Investment Management AB raised its holdings in Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after acquiring an additional 82,614 shares during the period. Natixis Advisors LLC increased its stake in shares of Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after purchasing an additional 18,450 shares during the period. Cinctive Capital Management LP bought a new stake in Onsemi during the 3rd quarter valued at approximately $1,270,000. Public Employees Retirement System of Ohio grew its holdings in Onsemi by 18.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock valued at $14,116,000 after buying an additional 30,695 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in Onsemi in the 3rd quarter worth approximately $1,087,000. 97.70% of the stock is owned by institutional investors.

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.