Onsemi (NASDAQ:ON) Shares Gap Down to $64.47

Onsemi (NASDAQ:ON)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $64.47, but opened at $63.01. Onsemi shares last traded at $62.88, with a volume of 1,002,928 shares traded.

Analysts Set New Price Targets

A number of brokerages recently commented on ON. TD Cowen upped their target price on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Susquehanna reaffirmed a “positive” rating and set a $90.00 price objective on shares of Onsemi in a report on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Truist Financial decreased their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.52.

Onsemi Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The company’s 50 day moving average price is $75.43 and its 200 day moving average price is $76.75. The firm has a market capitalization of $27.20 billion, a P/E ratio of 13.18, a PEG ratio of 6.27 and a beta of 1.80.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. As a group, sell-side analysts anticipate that Onsemi will post 4.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several institutional investors have recently modified their holdings of the business. Capital World Investors bought a new stake in Onsemi in the fourth quarter valued at about $697,276,000. Moneta Group Investment Advisors LLC increased its stake in shares of Onsemi by 122,198.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock valued at $378,107,000 after acquiring an additional 6,057,365 shares during the last quarter. Norges Bank acquired a new stake in shares of Onsemi in the 4th quarter valued at approximately $418,102,000. Alliancebernstein L.P. boosted its stake in Onsemi by 114.5% during the 4th quarter. Alliancebernstein L.P. now owns 5,139,098 shares of the semiconductor company’s stock worth $320,526,000 after acquiring an additional 2,743,216 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Onsemi by 231.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,681,038 shares of the semiconductor company’s stock valued at $303,024,000 after purchasing an additional 2,568,864 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.