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

Shares of Onsemi (NASDAQ:ON - Get Free Report) hit a new 52-week low during trading on Tuesday after KeyCorp lowered their price target on the stock from $90.00 to $70.00. KeyCorp currently has an overweight rating on the stock. Onsemi traded as low as $53.10 and last traded at $55.87, with a volume of 12192152 shares traded. The stock had previously closed at $53.94.

Other research analysts have also issued research reports about the company. BNP Paribas dropped their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Morgan Stanley increased their price objective on shares of Onsemi from $63.00 to $64.00 and gave the company an "underweight" rating in a research note on Tuesday, October 29th. Robert W. Baird lifted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Loop Capital initiated coverage on Onsemi in a report on Monday, November 11th. They set a "buy" rating and a $95.00 price objective for the company. Finally, TD Cowen dropped their price objective on Onsemi from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.35.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value 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 $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Onsemi

Large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi in the 3rd quarter worth approximately $33,000. GHP Investment Advisors Inc. increased its holdings in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 514 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in Onsemi in the third quarter valued at approximately $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Onsemi by 42.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 269 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Stock 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 firm has a 50-day moving average price of $66.59 and a 200 day moving average price of $70.20. The firm has a market capitalization of $23.50 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company's quarterly revenue was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 earnings per share. Research analysts expect that Onsemi will post 4 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.