Onsemi (NASDAQ:ON) Shares Gap Down to $74.39

Onsemi (NASDAQ:ON)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $74.39, but opened at $72.31. Onsemi shares last traded at $73.33, with a volume of 727,730 shares changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Benchmark upped their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Bank of America lifted their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Susquehanna increased their price target on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Needham & Company LLC restated a “buy” rating and set a $92.00 price target on shares of Onsemi in a report on Thursday, June 13th. Finally, StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Three 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.61.

Onsemi Stock Down 2.1 %

The company has a market cap of $30.57 billion, a P/E ratio of 14.50, a PEG ratio of 3.78 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The business’s 50 day moving average price is $72.34 and its 200-day moving average price is $71.77.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business posted $1.33 earnings per share. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. On average, analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the sale, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Onsemi news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

A number of large investors have recently bought and sold shares of the company. Westside Investment Management Inc. increased its position in shares of Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Onsemi during the 2nd quarter worth about $43,000. Fidelis Capital Partners LLC bought a new stake in shares of Onsemi in the 1st quarter valued at about $45,000. Finally, Oakworth Capital Inc. acquired a new stake in Onsemi in the 2nd quarter valued at about $53,000. 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.