Onsemi (NASDAQ:ON) Hits New 12-Month Low After Analyst Downgrade

Onsemi (NASDAQ:ON) hit a new 52-week low on Wednesday after UBS Group lowered their price target on the stock from $55.00 to $40.00. UBS Group currently has a neutral rating on the stock. Onsemi traded as low as $37.47 and last traded at $39.70, with a volume of 7272328 shares traded. The stock had previously closed at $38.86.

ON has been the topic of several other reports. Susquehanna reduced 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. Morgan Stanley cut their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group lowered their target price on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Jefferies Financial Group decreased their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.24.

Institutional Trading of Onsemi

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after acquiring an additional 344,354 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Norges Bank purchased a new stake in Onsemi in the 4th quarter valued at about $378,312,000. Allspring Global Investments Holdings LLC raised its holdings in Onsemi by 26.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company’s stock valued at $203,462,000 after buying an additional 1,055,461 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Onsemi by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after buying an additional 771,610 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Trading Down 0.3 %

The company’s 50 day simple moving average is $40.66 and its two-hundred day simple moving average is $55.19. The company has a market cap of $16.71 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last posted 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%. As a group, sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

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.