Onsemi (NASDAQ:ON) Reaches New 1-Year Low – Here’s Why

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ON. Jefferies Financial Group cut their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Benchmark reduced their target price on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and set a $57.00 price target on shares of Onsemi in a research note on Monday, March 3rd. Susquehanna cut their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Finally, Truist Financial decreased their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.85.

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 company has a market capitalization of $17.76 billion, a PE ratio of 11.61, a PEG ratio of 16.74 and a beta of 1.59. The company has a 50 day moving average price of $52.40 and a 200 day moving average price of $63.66.

Onsemi (NASDAQ:ON) last released 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 return on equity of 20.10% and a net margin of 22.21%. Equities analysts forecast that Onsemi will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Onsemi

A number of institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi during the 3rd quarter valued at about $33,000. Elequin Capital LP grew its holdings in shares of Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi during the 4th quarter worth approximately $41,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Onsemi in the 3rd quarter worth approximately $43,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Onsemi during the 4th quarter valued at approximately $43,000. 97.70% of the stock is currently owned by institutional investors.

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.