Onsemi (NASDAQ:ON) Shares Down 3% – Should You Sell?

Onsemi (NASDAQ:ON) dropped 3% during mid-day trading on Wednesday . The stock traded as low as $67.71 and last traded at $67.71. Approximately 983,404 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 6,654,658 shares. The stock had previously closed at $69.81.

Analysts Set New Price Targets

ON has been the topic of several recent analyst reports. Mizuho set a $85.00 target price on Onsemi in a research note on Friday, October 18th. Robert W. Baird lifted their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BNP Paribas cut their target price on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. KeyCorp cut their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.87.

Onsemi Stock Down 6.1 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a market cap of $27.91 billion, a PE ratio of 17.32, a P/E/G ratio of 7.93 and a beta of 1.63. The business has a fifty day moving average price of $70.27 and a two-hundred day moving average price of $71.74.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, analysts anticipate that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 4,500 shares of company stock valued at $321,765. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Several large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its stake in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the period. CWM LLC grew its stake in shares of Onsemi by 33.0% in the 2nd quarter. CWM LLC now owns 15,485 shares of the semiconductor company’s stock valued at $1,061,000 after purchasing an additional 3,846 shares during the period. Guinness Asset Management LTD grew its stake in shares of Onsemi by 6.0% in the 2nd quarter. Guinness Asset Management LTD now owns 398,036 shares of the semiconductor company’s stock valued at $27,281,000 after purchasing an additional 22,667 shares during the period. Guinness Atkinson Asset Management Inc grew its stake in shares of Onsemi by 4.0% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 16,985 shares of the semiconductor company’s stock valued at $1,164,000 after purchasing an additional 649 shares during the period. Finally, CX Institutional bought a new stake in shares of Onsemi in the 2nd quarter valued at approximately $305,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.