Onsemi (NASDAQ:ON) Trading 7.4% Higher – Time to Buy?

Onsemi (NASDAQ:ON) shares traded up 7.4% during mid-day trading on Wednesday . The company traded as high as $55.15 and last traded at $55.82. 7,547,111 shares were traded during mid-day trading, a decline of 18% from the average session volume of 9,234,256 shares. The stock had previously closed at $51.95.

Analyst Upgrades and Downgrades

ON has been the topic of a number of recent analyst reports. KeyCorp decreased their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Citigroup dropped their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Craig Hallum cut their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Loop Capital started coverage on shares of Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.16.

Onsemi Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The stock has a market cap of $23.40 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 15.56 and a beta of 1.61. The stock has a fifty day simple moving average of $58.11 and a two-hundred day simple moving average of $66.38.

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

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Onsemi

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Onsemi during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Onsemi during the third quarter valued at $33,000. Elequin Capital LP grew its stake in shares of Onsemi by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 274 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Onsemi during the 4th quarter worth $41,000. 97.70% of the stock is currently owned by 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.