Stock Traders Buy Large Volume of Put Options on Onsemi (NASDAQ:ON)

Onsemi (NASDAQ:ON) was the recipient of some unusual options trading on Friday. Stock investors purchased 38,191 put options on the stock. This represents an increase of approximately 80% compared to the typical daily volume of 21,225 put options.

Onsemi Trading Down 6.4 %

Shares of Onsemi stock opened at $40.94 on Friday. Onsemi has a 1 year low of $40.62 and a 1 year high of $80.08. 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 has a 50 day moving average price of $48.92 and a 200 day moving average price of $61.21. The company has a market capitalization of $17.25 billion, a P/E ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last released 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 return on equity of 20.10% and a net margin of 22.21%. Sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. UBS Group dropped their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus cut their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Susquehanna lowered their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Finally, Morgan Stanley cut their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Institutional Investors Weigh In On Onsemi

Several hedge funds have recently modified their holdings of ON. 111 Capital acquired a new stake in shares of Onsemi during the fourth quarter worth $257,000. Wealth Enhancement Advisory Services LLC boosted its stake in Onsemi by 15.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company’s stock worth $1,070,000 after buying an additional 2,209 shares during the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in Onsemi in the 4th quarter valued at about $3,783,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Onsemi during the 4th quarter valued at about $17,873,000. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Onsemi during the 4th quarter worth about $4,640,000. 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.