Onsemi (NASDAQ:ON) Reaches New 52-Week Low Following Analyst Downgrade

Onsemi (NASDAQ:ON)’s share price hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $64.00 to $52.00. Morgan Stanley currently has an underweight rating on the stock. Onsemi traded as low as $50.34 and last traded at $49.91, with a volume of 610827 shares trading hands. The stock had previously closed at $52.34.

A number of other research analysts also recently commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price target on shares of Onsemi in a research note on Thursday, December 12th. Mizuho set a $85.00 price target on Onsemi in a research note on Friday, October 18th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Loop Capital initiated coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Susquehanna lowered their target price on Onsemi from $80.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several large investors have recently bought and sold shares of ON. Creative Planning increased its stake in shares of Onsemi by 11.2% during the second quarter. Creative Planning now owns 21,991 shares of the semiconductor company’s stock valued at $1,507,000 after purchasing an additional 2,215 shares in the last quarter. Czech National Bank raised its stake in Onsemi by 6.4% during the third quarter. Czech National Bank now owns 87,260 shares of the semiconductor company’s stock valued at $6,336,000 after buying an additional 5,276 shares during the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Onsemi by 3.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 14,981 shares of the semiconductor company’s stock worth $1,088,000 after acquiring an additional 445 shares during the last quarter. Everpar Advisors LLC boosted its stake in Onsemi by 10.2% in the 3rd quarter. Everpar Advisors LLC now owns 3,803 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 353 shares in the last quarter. Finally, Fulton Bank N.A. purchased a new stake in Onsemi during the 3rd quarter valued at about $209,000. 97.70% of the stock is owned by institutional investors.

Onsemi Stock Performance

The business’s 50 day simple moving average is $61.72 and its two-hundred day simple moving average is $67.95. The firm has a market capitalization of $21.54 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 10.02 and a beta of 1.62. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

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.