Onsemi (NASDAQ:ON) Trading 7.4% Higher – Here’s Why

Onsemi (NASDAQ:ON) shares traded up 7.4% on Wednesday . The stock traded as high as $55.15 and last traded at $55.82. 7,547,111 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 9,234,256 shares. The stock had previously closed at $51.95.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Benchmark reduced their target price on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Susquehanna reduced their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Craig Hallum reduced their target price on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus reduced their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $68.16.

Onsemi Stock Down 3.0 %

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 $22.78 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 16.67 and a beta of 1.61. The firm has a 50 day moving average price of $57.39 and a 200-day moving average price of $66.13.

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

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after acquiring an additional 82,614 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares in the last quarter. Cinctive Capital Management LP bought a new stake in shares of Onsemi in the third quarter worth about $1,270,000. Blue Trust Inc. increased its holdings in shares of Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Onsemi in the fourth quarter worth about $515,000. 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.