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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price objective on the stock. Loop Capital assumed coverage on Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. KeyCorp reduced their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Truist Financial reduced their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, TD Cowen reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock’s 50-day moving average is $70.27 and its 200 day moving average is $71.74. The firm has a market cap of $27.91 billion, a P/E ratio of 17.32, a PEG ratio of 7.93 and a beta of 1.63.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. On average, research analysts predict that Onsemi will post 4 earnings per share for the current year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 4,500 shares of company stock worth $321,765. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Large investors have recently added to or reduced their stakes in the company. Davis Investment Partners LLC boosted its stake in shares of Onsemi by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after buying an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares during the last quarter. Greenleaf Trust boosted its stake in shares of Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after buying an additional 173 shares during the last quarter. Meridian Financial Partners LLC boosted its stake in shares of Onsemi by 1.7% during the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Onsemi by 4.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after buying an additional 206 shares during the last quarter. Institutional investors 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.