Onsemi (NASDAQ:ON) Shares Gap Down to $74.39

Onsemi (NASDAQ:ON) gapped down before the market opened on Monday . The stock had previously closed at $74.39, but opened at $72.31. Onsemi shares last traded at $73.33, with a volume of 727,730 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $92.00 price target on shares of Onsemi in a research note on Thursday, June 13th. KeyCorp cut their target price on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Finally, Rosenblatt Securities upped their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Onsemi presently has a consensus rating of “Hold” and an average target price of $85.61.

Onsemi Stock Down 3.0 %

The firm’s 50-day simple moving average is $72.43 and its 200 day simple moving average is $71.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The company has a market capitalization of $30.91 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.66.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $1.33 EPS. Onsemi’s revenue was down 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Onsemi will post 4.01 earnings per share for the current year.

Insider Activity at Onsemi

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its holdings in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after buying an additional 550 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Onsemi during the 1st quarter valued at $45,000. 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 acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Onsemi in the second quarter valued at approximately $43,000. Finally, Oakworth Capital Inc. bought a new stake in Onsemi during the second quarter valued at about $53,000. Institutional investors 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.