Onsemi (NASDAQ:ON) Stock Price Down 4.9% – Here’s Why

Onsemi (NASDAQ:ON) dropped 4.9% on Friday . The company traded as low as $32.63 and last traded at $33.17. Approximately 2,186,133 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 7,394,829 shares. The stock had previously closed at $34.88.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ON. Stifel Nicolaus dropped their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Truist Financial decreased their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Mizuho decreased their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Benchmark dropped their price target on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Roth Capital set a $60.00 price target on Onsemi in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

Onsemi Price Performance

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 company has a market capitalization of $14.44 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The stock’s 50 day simple moving average is $45.10 and its 200-day simple moving average is $58.67.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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 return on equity of 20.10% and a net margin of 22.21%. As a group, equities analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Trading of Onsemi

Hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its position in shares of Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after buying an additional 82,614 shares in the last quarter. Blue Trust Inc. raised its stake in Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,119 shares in the last quarter. Oak Thistle LLC bought a new position in Onsemi during the 4th quarter worth approximately $515,000. Deltec Asset Management LLC acquired a new position in shares of Onsemi in the 4th quarter worth approximately $6,343,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Onsemi by 18.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock valued at $14,116,000 after acquiring an additional 30,695 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.