Traders Buy Large Volume of Put Options on Onsemi (NASDAQ:ON)

Onsemi (NASDAQ:ON) was the target of some unusual options trading on Friday. Traders acquired 38,191 put options on the company. This is an increase of approximately 80% compared to the average daily volume of 21,225 put options.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ON shares. Mizuho cut their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Stifel Nicolaus reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Roth Mkm decreased their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. Finally, KeyCorp decreased their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Price Performance

ON opened at $40.94 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock’s 50 day simple moving average is $48.92 and its 200 day simple moving average is $61.25. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a 1 year low of $40.62 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results 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 net margin of 22.21% and a return on equity of 20.10%. As a group, analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Institutional Trading of Onsemi

Large investors have recently modified their holdings of the business. Elequin Capital LP increased its position in Onsemi by 108.3% during the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi during the fourth quarter valued at about $41,000. Safe Harbor Fiduciary LLC bought a new position in Onsemi in the third quarter worth about $43,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Onsemi in the fourth quarter worth about $43,000. Finally, Synergy Asset Management LLC bought a new stake in Onsemi during the 4th quarter valued at approximately $51,000. 97.70% of the stock is owned by institutional investors.

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.