Onsemi (NASDAQ:ON) Reaches New 52-Week Low Following Analyst Downgrade

Onsemi (NASDAQ:ON) shares hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $64.00 to $52.00. Morgan Stanley currently has an underweight rating on the stock. Onsemi traded as low as $50.34 and last traded at $49.91, with a volume of 610827 shares trading hands. The stock had previously closed at $52.34.

A number of other brokerages have also commented on ON. Needham & Company LLC reissued a “buy” rating and set a $87.00 price target on shares of Onsemi in a report on Tuesday, November 19th. BNP Paribas lowered their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. UBS Group lowered their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. Finally, TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GraniteShares Advisors LLC acquired a new position in shares of Onsemi during the 4th quarter worth $516,000. Todd Asset Management LLC boosted its holdings in shares of Onsemi by 1.1% during the 4th quarter. Todd Asset Management LLC now owns 464,187 shares of the semiconductor company’s stock worth $29,267,000 after buying an additional 5,202 shares during the period. Sentry Investment Management LLC boosted its holdings in shares of Onsemi by 6.7% during the 4th quarter. Sentry Investment Management LLC now owns 7,655 shares of the semiconductor company’s stock worth $483,000 after buying an additional 478 shares during the period. IFP Advisors Inc boosted its holdings in shares of Onsemi by 9.5% during the 4th quarter. IFP Advisors Inc now owns 7,814 shares of the semiconductor company’s stock worth $493,000 after buying an additional 675 shares during the period. Finally, MONECO Advisors LLC boosted its holdings in shares of Onsemi by 5.4% during the 4th quarter. MONECO Advisors LLC now owns 17,266 shares of the semiconductor company’s stock worth $1,089,000 after buying an additional 883 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Up 0.6 %

The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average is $61.72 and its 200-day moving average is $67.95. The firm has a market capitalization of $21.54 billion, a P/E ratio of 12.55, a P/E/G ratio of 10.02 and a beta of 1.62.

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.