Onsemi (NASDAQ:ON) Sets New 1-Year Low – What’s Next?

Onsemi (NASDAQ:ON) shares hit a new 52-week low on Thursday . The stock traded as low as $37.53 and last traded at $37.24, with a volume of 1869022 shares traded. The stock had previously closed at $40.76.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ON shares. The Goldman Sachs Group decreased their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Rosenblatt Securities reissued a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 11th. Craig Hallum reduced their price target on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, B. Riley decreased their target price on Onsemi from $90.00 to $73.00 and set a “buy” 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 assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Trading Down 10.7 %

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 $15.34 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a 50 day simple moving average of $48.03 and a 200 day simple moving average of $60.58.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. Analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Truvestments Capital LLC increased its position in shares of Onsemi by 3.8% during the fourth 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. raised its position 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 period. V Square Quantitative Management LLC boosted its position in shares of 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 increased its stake 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 purchasing an additional 271 shares during the period. Finally, Elequin Capital LP grew its position in shares of Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds 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.