Onsemi (NASDAQ:ON) Shares Gap Down to $73.35

Onsemi (NASDAQ:ON)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $73.35, but opened at $71.04. Onsemi shares last traded at $70.38, with a volume of 1,082,611 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ON shares. Susquehanna raised their target price on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Truist Financial upped their target price on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Roth Mkm upped their target price on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Onsemi presently has an average rating of “Hold” and an average target price of $85.61.

Onsemi Stock Down 5.6 %

The company has a market capitalization of $29.78 billion, a P/E ratio of 14.08, a PEG ratio of 3.72 and a beta of 1.66. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $72.99 and a 200 day moving average price of $72.28.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $1.33 EPS. Onsemi’s revenue was down 17.2% compared to the same quarter last year. On average, research analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Onsemi

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Onsemi by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock valued at $4,205,014,000 after purchasing an additional 321,682 shares during the last quarter. Capital World Investors acquired a new position in Onsemi during the 4th quarter valued at about $697,276,000. Dimensional Fund Advisors LP boosted its stake in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Capital International Investors lifted its position in shares of Onsemi by 1.0% during the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after buying an additional 42,117 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its position in shares of Onsemi by 35.6% during the 4th quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock worth $249,717,000 after buying an additional 785,305 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.