Onsemi (NASDAQ:ON) Reaches New 52-Week Low – Here’s Why

Onsemi (NASDAQ:ON)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $41.01 and last traded at $41.42, with a volume of 3163789 shares traded. The stock had previously closed at $43.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ON shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $49.00 target price on shares of Onsemi in a research note on Thursday, February 27th. Morgan Stanley reduced their price target 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. KeyCorp lowered their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. UBS Group reduced their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Mizuho decreased their price target on Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Two 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Stock Down 6.4 %

The firm’s fifty day simple moving average is $48.92 and its 200 day simple moving average is $61.21. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 16.74 and a beta of 1.59. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

Several hedge funds have recently made changes to their positions in ON. Nordea Investment Management AB lifted its holdings in shares of Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after purchasing an additional 82,614 shares during the last quarter. Cinctive Capital Management LP acquired a new position in Onsemi in the 3rd quarter valued at about $1,270,000. Blue Trust Inc. increased its holdings in shares of Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after purchasing an additional 1,119 shares during the period. Oak Thistle LLC acquired a new position in Onsemi in the 4th quarter valued at $515,000. Finally, Deltec Asset Management LLC purchased a new position in Onsemi during the fourth quarter worth about $6,343,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.