Onsemi (NASDAQ:ON) Sets New 12-Month Low – Here’s What Happened

Onsemi (NASDAQ:ON)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $41.85 and last traded at $42.86, with a volume of 9005844 shares trading hands. The stock had previously closed at $44.16.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ON shares. JPMorgan Chase & Co. reduced their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. KeyCorp reduced their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Roth Capital set a $60.00 price target on Onsemi in a research report on Friday. Benchmark reduced their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, Truist Financial decreased their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.85.

Onsemi Stock Performance

The stock has a market cap of $18.06 billion, a PE ratio of 11.81, a P/E/G ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock has a 50-day simple moving average of $52.80 and a 200-day simple moving average of $63.80.

Onsemi (NASDAQ:ON) last issued its 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 return on equity of 20.10% and a net margin of 22.21%. Equities analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Trading of Onsemi

Institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC boosted its holdings in Onsemi by 3.8% in the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 207 shares during the period. Assetmark Inc. boosted its stake in shares of 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. Metis Global Partners LLC grew its holdings in Onsemi by 1.8% during the 3rd quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company’s stock valued at $996,000 after purchasing an additional 237 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Onsemi by 3.9% during the 4th 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. Finally, Huntington National Bank increased its stake in Onsemi by 8.9% during the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock worth $209,000 after buying an additional 271 shares during the period. 97.70% of the stock is 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.