Onsemi (NASDAQ:ON) Hits New 12-Month Low – Here’s What Happened

Onsemi (NASDAQ:ON)’s stock price hit a new 52-week low on Friday . The company traded as low as $41.01 and last traded at $41.42, with a volume of 3163789 shares traded. The stock had previously closed at $43.76.

Analyst Ratings Changes

ON has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective 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. Wells Fargo & Company reduced their price objective on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Roth Mkm lowered their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. UBS Group decreased their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Trading Down 6.4 %

The business has a 50 day moving average of $49.20 and a 200-day moving average of $61.45. The stock has a market cap of $17.26 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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%. On average, analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Onsemi

Institutional investors and hedge funds have recently modified their holdings of the company. Truvestments Capital LLC raised its holdings in Onsemi by 3.8% in the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 207 shares during the last quarter. Assetmark Inc. increased its stake in Onsemi by 0.3% in the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock valued at $4,949,000 after purchasing an additional 235 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Onsemi by 3.9% during the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock worth $424,000 after buying an additional 252 shares during the period. Huntington National Bank lifted its position in Onsemi by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock worth $209,000 after buying an additional 271 shares during the period. Finally, Elequin Capital LP boosted its stake in Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after buying an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.