Onsemi (NASDAQ:ON) Hits New 1-Year Low – Here’s What Happened

Onsemi (NASDAQ:ON)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $37.53 and last traded at $37.24, with a volume of 1869022 shares trading hands. The stock had previously closed at $40.76.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ON. Citigroup decreased their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. KeyCorp decreased their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a research note on Thursday, February 27th. Craig Hallum dropped their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Finally, Susquehanna cut their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Onsemi Trading Down 10.7 %

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 business’s 50-day simple moving average is $48.03 and its 200-day simple moving average is $60.58. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 16.74 and a beta of 1.59.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elequin Capital LP raised its holdings in shares of Onsemi by 108.3% during the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 274 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of Onsemi in the third quarter valued at $43,000. Newbridge Financial Services Group Inc. acquired a new stake in Onsemi during the 4th quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Onsemi during the 4th quarter worth $43,000. Finally, Synergy Asset Management LLC purchased a new position in Onsemi in the 4th quarter valued at about $51,000. 97.70% of the stock is 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.