Onsemi (NASDAQ:ON) Short Interest Up 16.9% in February

Onsemi (NASDAQ:ON) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 31,320,000 shares, a growth of 16.9% from the February 13th total of 26,790,000 shares. Based on an average daily trading volume, of 8,890,000 shares, the short-interest ratio is presently 3.5 days. Approximately 7.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Craig Hallum dropped their price target on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Citigroup lowered their target price on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Roth Capital set a $60.00 price target on Onsemi in a research note on Friday, March 7th. UBS Group decreased their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Jefferies Financial Group dropped their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average price target of $66.85.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Elequin Capital LP grew its stake in Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 274 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Onsemi during the fourth quarter worth approximately $41,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi during the 3rd quarter valued at $43,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onsemi during the 4th quarter worth $43,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Onsemi in the 4th quarter worth $51,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of NASDAQ ON traded up $0.16 on Wednesday, hitting $43.58. The company’s stock had a trading volume of 5,038,858 shares, compared to its average volume of 6,778,104. The stock has a 50 day moving average of $50.80 and a 200-day moving average of $62.65. The company has a market capitalization of $18.37 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a 12-month low of $41.59 and a 12-month high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, research analysts predict that Onsemi will post 2.6 EPS for the current year.

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.