Onsemi (NASDAQ:ON) Reaches New 52-Week Low Following Analyst Downgrade

Onsemi (NASDAQ:ON)’s stock price hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $64.00 to $52.00. Morgan Stanley currently has an underweight rating on the stock. Onsemi traded as low as $50.34 and last traded at $49.91, with a volume of 610827 shares traded. The stock had previously closed at $52.34.

A number of other brokerages have also weighed in on ON. Susquehanna lowered their price objective on Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Loop Capital assumed coverage on Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. UBS Group cut their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday. Finally, B. Riley cut their target price on Onsemi from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Onsemi

Several large investors have recently added to or reduced their stakes in ON. Creative Planning lifted its stake in Onsemi by 11.2% during the second quarter. Creative Planning now owns 21,991 shares of the semiconductor company’s stock worth $1,507,000 after purchasing an additional 2,215 shares during the last quarter. Czech National Bank lifted its stake in Onsemi by 6.4% in the third quarter. Czech National Bank now owns 87,260 shares of the semiconductor company’s stock valued at $6,336,000 after buying an additional 5,276 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in Onsemi by 3.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 14,981 shares of the semiconductor company’s stock valued at $1,088,000 after buying an additional 445 shares during the last quarter. Everpar Advisors LLC lifted its stake in Onsemi by 10.2% in the third quarter. Everpar Advisors LLC now owns 3,803 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 353 shares during the last quarter. Finally, Fulton Bank N.A. bought a new stake in Onsemi in the third quarter valued at $209,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Price Performance

The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $21.54 billion, a P/E ratio of 12.55, a PEG ratio of 10.02 and a beta of 1.62. The business has a 50 day simple moving average of $61.72 and a 200-day simple moving average of $67.95.

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.