Onsemi (NASDAQ:ON) Sets New 1-Year Low – Should You Sell?

Onsemi (NASDAQ:ON) hit a new 52-week low on Thursday . The company traded as low as $43.33 and last traded at $44.03, with a volume of 1285077 shares traded. The stock had previously closed at $46.49.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Craig Hallum lowered their price objective on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group lowered their price target on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Roth Mkm cut their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company decreased their price objective on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, B. Riley dropped their target price on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.12.

Onsemi Price Performance

The company’s 50 day moving average is $54.89 and its 200-day moving average is $64.91. The firm has a market capitalization of $18.46 billion, a price-to-earnings ratio of 12.08, a P/E/G 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 released its quarterly earnings results 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%. Equities research analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Onsemi in the 4th quarter worth approximately $378,312,000. Bridgewater Associates LP lifted its holdings in shares of Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after purchasing an additional 1,109,778 shares in the last quarter. Janus Henderson Group PLC grew its position in Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Onsemi during the fourth quarter worth $62,426,000. 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.