Onsemi Sees Unusually Large Options Volume (NASDAQ:ON)

Onsemi (NASDAQ:ON) was the recipient of some unusual options trading on Friday. Stock traders purchased 38,191 put options on the stock. This is an increase of 80% compared to the typical daily volume of 21,225 put options.

Onsemi Price Performance

Shares of NASDAQ:ON traded down $2.82 on Friday, reaching $40.94. 10,437,180 shares of the company were exchanged, compared to its average volume of 7,105,548. Onsemi has a 1-year low of $40.63 and a 1-year high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a 50-day moving average of $48.92 and a 200-day moving average of $61.25.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ON. UBS Group lowered their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Benchmark cut their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Morgan Stanley cut their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group dropped their price target 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.50.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Onsemi in the fourth quarter valued at approximately $378,312,000. Janus Henderson Group PLC lifted its stake in Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after buying an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Onsemi during the fourth quarter worth $62,426,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Onsemi by 18.2% in the fourth 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. Institutional investors and hedge funds 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.