Onsemi (NASDAQ:ON) Hits New 52-Week Low – Time to Sell?

Onsemi (NASDAQ:ON) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $52.80 and last traded at $53.76, with a volume of 664966 shares trading hands. The stock had previously closed at $53.94.

Analyst Ratings Changes

ON has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “hold” rating and set a $60.00 price target (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Susquehanna decreased their price target on shares of Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Mizuho set a $85.00 target price on shares of Onsemi in a research note on Friday, October 18th. BNP Paribas cut their price target on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $81.70.

Onsemi Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm’s 50 day simple moving average is $63.74 and its 200 day simple moving average is $68.94. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.62 and a beta of 1.64.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the business posted $1.39 EPS. The business’s revenue was down 19.2% compared to the same quarter last year. Sell-side analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after purchasing an additional 380,471 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Onsemi by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after purchasing an additional 31,889 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Onsemi by 19.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after purchasing an additional 326,734 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.