Onsemi (NASDAQ:ON) Sets New 12-Month Low – Here’s What Happened

Onsemi (NASDAQ:ON) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $41.85 and last traded at $42.86, with a volume of 9005844 shares trading hands. The stock had previously closed at $44.16.

Analysts Set New Price Targets

Several research firms have issued reports on ON. Truist Financial dropped their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Citigroup dropped their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley decreased 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. Finally, UBS Group cut their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.85.

Onsemi Stock Down 2.9 %

The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $52.80 and its 200 day moving average price is $63.80. The firm has a market cap of $18.06 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. As a group, research analysts expect that Onsemi will post 2.6 earnings per share for the current year.

Institutional Trading of Onsemi

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after buying an additional 344,354 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after acquiring an additional 1,041,989 shares during the period. Geode Capital Management LLC raised its holdings in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Norges Bank acquired a new stake in Onsemi in the fourth quarter worth approximately $378,312,000. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $316,195,000 after purchasing an additional 771,610 shares in the last quarter. 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.