Onsemi Target of Unusually Large Options Trading (NASDAQ:ON)

Onsemi (NASDAQ:ON) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 34,266 put options on the stock. This is an increase of approximately 58% compared to the typical daily volume of 21,639 put options.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC increased its stake in 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 buying an additional 207 shares during the period. Assetmark Inc. lifted its holdings in shares of Onsemi by 0.3% during the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after acquiring an additional 235 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Onsemi by 1.8% during the 3rd quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company’s stock worth $996,000 after acquiring an additional 237 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock worth $424,000 after acquiring an additional 252 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of 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 acquiring an additional 271 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ON has been the subject of several research reports. Jefferies Financial Group dropped their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, February 10th. UBS Group lowered their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Citigroup lowered their target price on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Roth Mkm lowered their target price on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus lowered their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Two investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.85.

Onsemi Stock Performance

Onsemi stock opened at $42.85 on Thursday. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 11.80, 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. Onsemi has a 12-month low of $41.85 and a 12-month high of $82.33. The firm’s fifty day moving average price is $52.80 and its 200 day moving average price is $63.80.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. On average, research analysts forecast that Onsemi will post 2.6 EPS for the current fiscal 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.