Onsemi (NASDAQ:ON) Reaches New 1-Year Low – Time to Sell?

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ON. KeyCorp dropped their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Mizuho dropped their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Roth Mkm reduced their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Roth Capital set a $60.00 price target on Onsemi in a research report on Friday, March 7th. Finally, Wells Fargo & Company cut their price objective on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Onsemi Stock Down 6.4 %

The company has a market cap of $17.25 billion, a PE ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59. The business has a 50-day simple moving average of $48.92 and a 200-day simple moving average of $61.21. The company has a quick ratio of 3.38, a current ratio of 5.06 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 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%. Equities research analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Onsemi

Several large investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in Onsemi during the 3rd quarter valued at about $1,270,000. Blue Trust Inc. raised its holdings in Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 1,119 shares during the last quarter. Oak Thistle LLC acquired a new stake in Onsemi in the 4th quarter valued at about $515,000. Finally, Deltec Asset Management LLC purchased a new position in Onsemi in the 4th quarter worth approximately $6,343,000. 97.70% of the stock is currently owned by hedge funds and other 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.