Onsemi (NASDAQ:ON) Hits New 52-Week Low on Disappointing Earnings

Onsemi (NASDAQ:ON)’s stock price reached a new 52-week low during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $48.47 and last traded at $48.33, with a volume of 4853201 shares changing hands. The stock had previously closed at $51.25.

The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ON shares. Wells Fargo & Company lowered their price target on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Loop Capital started coverage on shares of Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 price objective for the company. Robert W. Baird raised their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. TD Cowen reduced their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. Two 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, November 25th. The shares were 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 of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

Several large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Onsemi in the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Onsemi during the third quarter valued at $33,000. GHP Investment Advisors Inc. increased its position in Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Onsemi during the fourth quarter valued at $41,000. Finally, Safe Harbor Fiduciary LLC bought a new position in Onsemi during the third quarter valued at $43,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 6.3 %

The stock’s fifty day moving average price is $60.60 and its 200 day moving average price is $67.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The stock has a market capitalization of $20.44 billion, a P/E ratio of 11.92, a PEG ratio of 10.27 and a beta of 1.61.

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.