Investors Purchase High Volume of Onsemi Put Options (NASDAQ:ON)

Onsemi (NASDAQ:ON) saw unusually large options trading on Friday. Stock traders acquired 38,191 put options on the company. This represents an increase of approximately 80% compared to the average daily volume of 21,225 put options.

Onsemi Stock Performance

Shares of Onsemi stock traded down $2.82 on Friday, hitting $40.94. 10,437,180 shares of the company’s stock were exchanged, compared to its average volume of 7,105,548. Onsemi has a 1 year low of $40.63 and a 1 year high of $80.08. The company has a 50-day simple moving average of $48.92 and a 200-day simple moving average of $61.25. The stock has a market capitalization of $17.25 billion, a PE ratio of 11.28, a PEG ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. As a group, equities analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. The Goldman Sachs Group decreased their price target on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Roth Capital set a $60.00 target price on Onsemi in a research note on Friday, March 7th. B. Riley reduced their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a research note on Thursday, February 27th. Finally, Jefferies Financial Group reduced their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Two equities 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. According to MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average target price of $66.50.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Onsemi in the fourth quarter worth about $378,312,000. Janus Henderson Group PLC lifted its holdings in Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after buying an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after buying an additional 1,037,624 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Onsemi in the 4th quarter valued at $62,426,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Onsemi by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after buying an additional 771,610 shares during the last quarter. Institutional investors 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.