Onsemi (NASDAQ:ON) Hits New 52-Week Low on Disappointing Earnings

Onsemi (NASDAQ:ON) hit a new 52-week low on Monday following a weaker than expected earnings announcement. The company traded as low as $48.47 and last traded at $48.33, with a volume of 4853201 shares changing hands. The stock had previously closed at $51.25.

The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ON. Susquehanna dropped their target price on shares of Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a report on Tuesday, November 19th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a report on Friday. Finally, Morgan Stanley dropped their price objective on shares of Onsemi from $64.00 to $52.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Two 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.50.

Insider Transactions at Onsemi

In related 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 of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Onsemi in the 3rd quarter worth $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi in the 3rd quarter worth about $33,000. GHP Investment Advisors Inc. lifted its position in shares of Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the period. Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi in the 3rd quarter worth about $43,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi in the 4th quarter worth about $41,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

The company’s 50-day moving average price is $60.60 and its 200 day moving average price is $67.49. 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 stock has a market capitalization of $20.44 billion, a PE ratio of 11.92, a PEG ratio of 10.27 and a beta of 1.61.

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.