Onsemi (NASDAQ:ON) Shares Gap Down to $77.33

Onsemi (NASDAQ:ON) gapped down before the market opened on Tuesday . The stock had previously closed at $77.33, but opened at $75.00. Onsemi shares last traded at $74.51, with a volume of 801,707 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ON shares. Deutsche Bank Aktiengesellschaft dropped their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Truist Financial dropped their target price on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Stifel Nicolaus dropped their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Mizuho lowered their price target on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, B. Riley reaffirmed a “buy” rating and set a $103.00 price target (down from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.36.

Onsemi Price Performance

The firm has a fifty day simple moving average of $72.72 and a 200 day simple moving average of $73.30. The company has a market capitalization of $30.16 billion, a PE ratio of 14.31, a P/E/G ratio of 3.34 and a beta of 1.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business posted $1.19 EPS. Onsemi’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts anticipate that Onsemi will post 3.83 EPS for the current year.

Insider Activity

In other news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama lifted its position in Onsemi by 0.6% during the 2nd quarter. Retirement Systems of Alabama now owns 94,905 shares of the semiconductor company’s stock worth $6,506,000 after acquiring an additional 587 shares during the period. Slow Capital Inc. lifted its position in Onsemi by 1.6% during the 2nd quarter. Slow Capital Inc. now owns 53,794 shares of the semiconductor company’s stock worth $3,688,000 after acquiring an additional 868 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Onsemi during the 2nd quarter worth about $234,000. Pallas Capital Advisors LLC lifted its position in Onsemi by 16.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 20,467 shares of the semiconductor company’s stock worth $1,544,000 after acquiring an additional 2,836 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Onsemi by 12.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 33,846 shares of the semiconductor company’s stock worth $2,320,000 after acquiring an additional 3,819 shares during the period. 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.