Onsemi (NASDAQ:ON) Hits New 1-Year Low – Time to Sell?

Shares of Onsemi (NASDAQ:ON) hit a new 52-week low during trading on Friday . The stock traded as low as $41.01 and last traded at $41.42, with a volume of 3163789 shares traded. The stock had previously closed at $43.76.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. KeyCorp decreased their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a report on Thursday, February 27th. UBS Group dropped their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Onsemi Stock Down 6.4 %

The stock has a market capitalization of $17.26 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 16.74 and a beta of 1.59. 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’s fifty day moving average is $49.20 and its 200-day moving average is $61.45.

Onsemi (NASDAQ:ON) last issued 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 return on equity of 20.10% and a net margin of 22.21%. On average, sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On Onsemi

Institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Onsemi in the fourth quarter worth $378,312,000. Janus Henderson Group PLC lifted its position in shares of Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after buying an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 buying an additional 1,037,624 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Onsemi during the 4th quarter valued at about $62,426,000. Finally, Dimensional Fund Advisors LP lifted 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 worth $316,195,000 after acquiring an additional 771,610 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

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.