Onsemi (NASDAQ:ON) Hits New 12-Month Low on Analyst Downgrade

Onsemi (NASDAQ:ON) reached a new 52-week low on Monday after Morgan Stanley lowered their price target on the stock from $64.00 to $52.00. Morgan Stanley currently has an underweight rating on the stock. Onsemi traded as low as $50.34 and last traded at $49.91, with a volume of 610827 shares trading hands. The stock had previously closed at $52.34.

ON has been the subject of a number of other reports. Mizuho set a $85.00 price target on Onsemi in a research note on Friday, October 18th. Susquehanna decreased their price target on shares of Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Robert W. Baird raised their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. BNP Paribas cut their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ON. Greenleaf Trust lifted its stake in shares of Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after buying an additional 173 shares during the period. Meridian Financial Partners LLC increased its holdings in Onsemi by 1.7% in the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares during the period. Dynamic Advisor Solutions LLC raised its position in Onsemi by 4.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after buying an additional 206 shares during the last quarter. Sentry Investment Management LLC boosted its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 209 shares during the last quarter. Finally, CX Institutional raised its holdings in shares of Onsemi by 5.2% during the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock worth $340,000 after purchasing an additional 232 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Performance

The company has a market capitalization of $21.54 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 10.02 and a beta of 1.62. The firm’s fifty day simple moving average is $61.72 and its 200 day simple moving average is $67.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

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.