Onsemi (NASDAQ:ON) Reaches New 12-Month Low - What's Next?

Onsemi (NASDAQ:ON - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $41.01 and last traded at $41.42, with a volume of 3163789 shares trading hands. The stock had previously closed at $43.76.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price target on Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Roth Mkm decreased their target price on Onsemi from $100.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Citigroup cut their price target on shares of Onsemi from $77.00 to $52.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Mizuho decreased their price objective on shares of Onsemi from $71.00 to $62.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Onsemi from $88.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.50.

Onsemi Price Performance

The firm has a market cap of $17.15 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $48.64 and a two-hundred day moving average price of $60.94.

Remove Ads

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. As a group, equities analysts expect that Onsemi will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ON. Norges Bank purchased a new stake in Onsemi in the 4th quarter worth approximately $378,312,000. Janus Henderson Group PLC boosted its holdings in Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after buying an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock valued at $247,226,000 after buying an additional 1,037,624 shares during the period. Freestone Grove Partners LP purchased a new position in Onsemi in the fourth quarter valued at $62,426,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Onsemi by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after acquiring an additional 771,610 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.