Onsemi (NASDAQ:ON) Shares Gap Down - What's Next?

Onsemi (NASDAQ:ON - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $41.91, but opened at $40.52. Onsemi shares last traded at $38.30, with a volume of 7,016,243 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Robert W. Baird lowered their target price on Onsemi from $42.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday. Stifel Nicolaus decreased their price target on Onsemi from $52.00 to $42.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. TD Cowen lifted their price target on Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday. UBS Group reduced their target price on Onsemi from $55.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Needham & Company LLC decreased their price target on shares of Onsemi from $57.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Onsemi currently has an average rating of "Moderate Buy" and a consensus price target of $54.32.

Onsemi Stock Performance

The stock has a market capitalization of $16.58 billion, a PE ratio of 10.82, a P/E/G ratio of 16.74 and a beta of 1.39. The firm has a fifty day moving average price of $39.89 and a two-hundred day moving average price of $54.37. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. The company's quarterly revenue was down 22.4% compared to the same quarter last year. Research analysts expect that Onsemi will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Onsemi

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock valued at $25,724,000 after acquiring an additional 82,614 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock worth $509,000 after acquiring an additional 1,119 shares in the last quarter. Oak Thistle LLC bought a new stake in Onsemi during the fourth quarter valued at $515,000. Deltec Asset Management LLC acquired a new position in shares of Onsemi during the fourth quarter valued at $6,343,000. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Onsemi by 40.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company's stock valued at $1,763,000 after purchasing an additional 8,043 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.