Onsemi (NASDAQ:ON) Hits New 52-Week Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

ON has been the subject of a number of analyst reports. Truist Financial lowered their target price on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. 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. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Mizuho set a $85.00 price target on shares of Onsemi in a research note on Friday, October 18th. Finally, Robert W. Baird boosted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Price Performance

The company has a fifty day simple moving average of $67.75 and a two-hundred day simple moving average of $70.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 14.51, a P/E/G 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, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. As a group, research analysts anticipate that Onsemi will post 4 earnings per share for the current year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Institutional investors and hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. grew its position in shares of Onsemi by 61.0% in the 4th quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company’s stock worth $293,000 after acquiring an additional 1,758 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Onsemi during the third quarter valued at $389,000. World Investment Advisors LLC acquired a new stake in shares of Onsemi during the third quarter worth $1,087,000. Finally, Westside Investment Management Inc. lifted its position in shares of Onsemi by 67.9% in the 3rd quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company’s stock worth $68,000 after buying an additional 380 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other 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.