Onsemi (NASDAQ:ON) Stock Price Down 7.2% on Analyst Downgrade

Onsemi (NASDAQ:ON)’s share price fell 7.2% during mid-day trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $92.00 to $77.00. The Goldman Sachs Group currently has a buy rating on the stock. Onsemi traded as low as $53.96 and last traded at $54.11. 5,723,070 shares traded hands during trading, a decline of 32% from the average session volume of 8,378,158 shares. The stock had previously closed at $58.31.

A number of other analysts have also recently weighed in on ON. Robert W. Baird boosted their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Roth Mkm reiterated a “buy” rating and issued a $100.00 target price on shares of Onsemi in a research report on Thursday, December 12th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $87.00 target price on shares of Onsemi in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.43.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of hedge funds have recently added to or reduced their stakes in ON. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Onsemi during the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. raised its holdings in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Onsemi in the third quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Onsemi by 42.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 269 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Down 7.5 %

The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $22.97 billion, a P/E ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64. The firm’s 50-day moving average price is $67.20 and its 200 day moving average price is $70.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company posted $1.39 EPS. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, equities research analysts predict that Onsemi will post 4 earnings per share for the current year.

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.