Onsemi (NASDAQ:ON) Reaches New 1-Year Low on Analyst Downgrade

Onsemi (NASDAQ:ON) shares hit a new 52-week low during trading on Friday after Stifel Nicolaus lowered their price target on the stock from $82.00 to $72.00. Stifel Nicolaus currently has a hold rating on the stock. Onsemi traded as low as $60.60 and last traded at $62.31, with a volume of 1050000 shares trading hands. The stock had previously closed at $62.93.

Several other research firms have also weighed in on ON. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Evercore ISI initiated coverage on Onsemi in a research note on Tuesday. They issued an “outperform” rating and a $104.00 price target on the stock. KeyCorp lifted their target price on shares of Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.52.

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares during the period. State of Michigan Retirement System boosted its position in Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the period. Synergy Asset Management LLC boosted its position in Onsemi by 91.5% during the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock worth $12,918,000 after purchasing an additional 73,909 shares during the period. Handelsinvest Investeringsforvaltning bought a new position in Onsemi during the fourth quarter worth about $1,137,000. Finally, Chicago Capital LLC bought a new position in Onsemi during the fourth quarter worth about $3,860,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The stock has a market cap of $26.75 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 6.27 and a beta of 1.80. The business’s 50-day simple moving average is $75.07 and its two-hundred day simple moving average is $76.66.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $1.32 earnings per share. Sell-side analysts expect that Onsemi will post 4.32 EPS for the current year.

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.