Onsemi (NASDAQ:ON) Sets New 12-Month Low – Should You Sell?

Shares of Onsemi (NASDAQ:ON) reached a new 52-week low during trading on Tuesday . The stock traded as low as $52.80 and last traded at $53.76, with a volume of 664966 shares. The stock had previously closed at $53.94.

Wall Street Analysts Forecast Growth

ON has been the topic of several research analyst reports. Roth Mkm reissued a “buy” rating and set a $100.00 target price on shares of Onsemi in a research report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price target on shares of Onsemi in a research note on Tuesday, November 19th. KeyCorp cut their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group decreased their price target on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, TD Cowen cut their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.70.

Onsemi Price Performance

The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $63.74 and a 200 day simple moving average of $68.94. The stock has a market cap of $22.84 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 10.62 and a beta of 1.64.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. On average, analysts forecast that Onsemi will post 4 earnings per share for the current year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bridgewater Associates LP boosted its position in Onsemi by 8,367.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after acquiring an additional 1,109,778 shares in the last quarter. Van ECK Associates Corp boosted its position in Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after acquiring an additional 380,471 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Onsemi by 19.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after acquiring an additional 326,734 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.