Onsemi (NASDAQ:ON) Hits New 12-Month Low After Analyst Downgrade

Onsemi (NASDAQ:ON - Get Free Report) hit a new 52-week low during trading on Friday after Stifel Nicolaus lowered their price target on the stock from $82.00 to $72.00. Stifel Nicolaus currently has a hold rating on the stock. Onsemi traded as low as $60.60 and last traded at $62.31, with a volume of 1050000 shares trading hands. The stock had previously closed at $62.93.

Other equities research analysts also recently issued reports about the company. Susquehanna reaffirmed a "positive" rating and set a $90.00 target price on shares of Onsemi in a report on Monday, April 8th. The Goldman Sachs Group dropped their price target on Onsemi from $91.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday. Rosenblatt Securities reissued a "neutral" rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. Needham & Company LLC reissued a "buy" rating and set a $92.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. Finally, StockNews.com raised Onsemi from a "sell" rating to a "hold" rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi has an average rating of "Moderate Buy" and an average target price of $96.52.

Institutional Trading of Onsemi

Several hedge funds have recently added to or reduced their stakes in ON. International Assets Investment Management LLC lifted its position in shares of Onsemi by 7,749.6% in the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company's stock worth $6,963,000 after acquiring an additional 82,301 shares during the period. State of Michigan Retirement System lifted its position in shares of Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company's stock worth $11,739,000 after acquiring an additional 4,900 shares during the period. Synergy Asset Management LLC lifted its position in shares of Onsemi by 91.5% in the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company's stock worth $12,918,000 after acquiring an additional 73,909 shares during the period. Handelsinvest Investeringsforvaltning bought a new stake in shares of Onsemi in the 4th quarter worth approximately $1,137,000. Finally, Chicago Capital LLC bought a new stake in shares of Onsemi in the 4th quarter worth approximately $3,860,000. Institutional investors own 97.70% of the company's stock.

Onsemi Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The stock has a 50-day simple moving average of $74.67 and a 200 day simple moving average of $76.43. The company has a market cap of $26.10 billion, a P/E ratio of 12.42, a P/E/G ratio of 6.27 and a beta of 1.80.

Onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2 billion. During the same period in the prior year, the firm posted $1.32 EPS. Onsemi's quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts expect that Onsemi will post 4.32 EPS for the current year.

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.