Onsemi (NASDAQ:ON) Shares Down 4.9% on Analyst Downgrade

Onsemi (NASDAQ:ON) traded down 4.9% on Friday after Citigroup lowered their price target on the stock from $52.00 to $40.00. Citigroup currently has a neutral rating on the stock. Onsemi traded as low as $32.63 and last traded at $33.17. 2,186,133 shares were traded during mid-day trading, a decline of 70% from the average session volume of 7,394,829 shares. The stock had previously closed at $34.88.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus decreased their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Susquehanna decreased their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. B. Riley dropped their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Benchmark dropped their price target on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, UBS Group cut their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $65.46.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ON. Norges Bank bought a new position in shares of Onsemi in the fourth quarter valued at $378,312,000. Janus Henderson Group PLC boosted its position in Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Onsemi in the fourth quarter worth approximately $62,426,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Onsemi by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after purchasing an additional 771,610 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $44.79 and a 200 day moving average price of $58.43.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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 predict that Onsemi will post 2.6 earnings per share for the current year.

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.