Onsemi (NASDAQ:ON) Sets New 12-Month Low on Analyst Downgrade

Onsemi (NASDAQ:ON)’s share price hit a new 52-week low 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 traded. The stock had previously closed at $62.93.

ON has been the subject of several other research reports. KeyCorp upped their price target on shares of Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. The Goldman Sachs Group dropped their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Evercore ISI began coverage on shares of Onsemi in a research note on Tuesday. They set an “outperform” rating and a $104.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.52.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Onsemi by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after purchasing an additional 321,682 shares during the period. Geode Capital Management LLC lifted its holdings in Onsemi by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 9,271,748 shares of the semiconductor company’s stock worth $761,615,000 after buying an additional 136,908 shares in the last quarter. Capital World Investors acquired a new stake in Onsemi during the 4th quarter worth approximately $697,276,000. Voya Investment Management LLC lifted its holdings in Onsemi by 16.2% during the 4th quarter. Voya Investment Management LLC now owns 6,229,535 shares of the semiconductor company’s stock worth $520,353,000 after buying an additional 868,203 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Onsemi by 122,198.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after buying an additional 6,057,365 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

The company has a market capitalization of $26.10 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 6.27 and a beta of 1.80. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $74.67 and its 200-day simple moving average is $76.43.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $2.02 billion for 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%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. Analysts predict that Onsemi will post 4.32 EPS for the current 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.