Onsemi Sees Unusually High Options Volume (NASDAQ:ON)

Onsemi (NASDAQ:ON - Get Free Report) saw some unusual options trading on Tuesday. Stock investors bought 34,266 put options on the company. This represents an increase of 58% compared to the typical daily volume of 21,639 put options.

Institutional Investors Weigh In On Onsemi

A number of institutional investors have recently modified their holdings of ON. Nordea Investment Management AB increased its position in 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 acquiring an additional 82,614 shares during the period. Natixis Advisors LLC grew its position in shares of Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company's stock worth $98,169,000 after purchasing an additional 18,450 shares in the last quarter. Cinctive Capital Management LP bought a new position in shares of Onsemi during the third quarter worth approximately $1,270,000. Blue Trust Inc. raised its position 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 valued at $509,000 after buying an additional 1,119 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Onsemi in the fourth quarter valued at approximately $515,000. Institutional investors own 97.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ON shares. Benchmark decreased their price objective on Onsemi from $90.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Citigroup decreased their price target on shares of Onsemi from $77.00 to $52.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus cut their price objective 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. Wells Fargo & Company decreased their target price on shares of Onsemi from $80.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, February 11th. Finally, Truist Financial cut their price target 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.85.

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Onsemi Stock Performance

ON stock traded down $0.01 during mid-day trading on Wednesday, hitting $42.85. 6,639,019 shares of the company were exchanged, compared to its average volume of 6,799,507. Onsemi has a 1-year low of $41.85 and a 1-year high of $82.33. The business has a 50 day simple moving average of $52.80 and a 200-day simple moving average of $63.80. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $18.06 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings results 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 net margin of 22.21% and a return on equity of 20.10%. On average, equities analysts forecast that Onsemi will post 2.6 earnings per share 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.