Onsemi (NASDAQ:ON) Reaches New 1-Year Low - Should You Sell?

Onsemi (NASDAQ:ON - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $43.33 and last traded at $44.03, with a volume of 1285077 shares trading hands. The stock had previously closed at $46.49.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ON. Wells Fargo & Company decreased their target price on Onsemi from $80.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. UBS Group decreased their price objective on Onsemi from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus reduced their target price on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on shares of Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Finally, KeyCorp dropped their price objective on shares of Onsemi from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.12.

Onsemi Trading Up 3.5 %

The business's 50-day moving average price is $53.59 and its 200-day moving average price is $64.25. The firm has a market capitalization of $19.13 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

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Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data 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 return on equity of 20.10% and a net margin of 22.21%. As a group, analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Institutional investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC grew its stake in shares of Onsemi by 3.8% in the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 207 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Onsemi by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock worth $4,949,000 after purchasing an additional 235 shares during the period. Metis Global Partners LLC grew its position in Onsemi by 1.8% in the 3rd quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company's stock valued at $996,000 after buying an additional 237 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Onsemi by 3.9% in the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock valued at $424,000 after buying an additional 252 shares during the period. Finally, Huntington National Bank raised its position in Onsemi by 8.9% during the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock worth $209,000 after buying an additional 271 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

About Onsemi

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.