Onsemi (NASDAQ:ON) Shares Gap Down – Time to Sell?

Onsemi (NASDAQ:ON)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $39.20, but opened at $36.58. Onsemi shares last traded at $35.37, with a volume of 2,268,470 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ON shares. Susquehanna reduced their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target on shares of Onsemi in a research report on Monday, March 3rd. Finally, Citigroup lowered their price objective on shares of Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.46.

Onsemi Price Performance

The stock’s fifty day moving average price is $44.79 and its 200-day moving average price is $58.43. 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 firm has a market cap of $14.81 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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, equities analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Trading of Onsemi

Several hedge funds have recently made changes to their positions in ON. Norges Bank acquired a new position in Onsemi during the 4th quarter worth $378,312,000. Janus Henderson Group PLC grew its holdings in 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 acquiring an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Onsemi during the fourth quarter worth $62,426,000. Finally, Dimensional Fund Advisors LP increased its holdings 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. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.