StockNews.com Lowers Onsemi (NASDAQ:ON) to Sell

StockNews.com lowered shares of Onsemi (NASDAQ:ON) from a hold rating to a sell rating in a report issued on Thursday morning.

ON has been the subject of a number of other research reports. B. Riley restated a buy rating and set a $103.00 price target (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Citigroup downgraded shares of Onsemi from a buy rating to a neutral rating and cut their price target for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Morgan Stanley downgraded shares of Onsemi from an equal weight rating to an underweight rating and cut their price target for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. The Goldman Sachs Group cut their price target on shares of Onsemi from $91.00 to $81.00 and set a buy rating for the company in a report on Tuesday, April 16th. Finally, Stifel Nicolaus dropped their target price on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Onsemi presently has a consensus rating of Hold and an average price target of $85.61.

Onsemi Price Performance

Shares of ON opened at $71.30 on Thursday. The firm has a market capitalization of $30.68 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 3.12 and a beta of 1.69. The company’s fifty day moving average price is $72.30 and its 200-day moving average price is $73.01. Onsemi has a 1-year low of $59.34 and a 1-year high of $101.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.87.

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

Insider Activity

In related news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the sale, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,850 shares of company stock worth $5,236,119. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of large investors have recently bought and sold shares of ON. Turtle Creek Wealth Advisors LLC bought a new position in Onsemi during the fourth quarter worth $32,000. MeadowBrook Investment Advisors LLC acquired a new position in Onsemi during the fourth quarter worth about $33,000. Private Wealth Management Group LLC acquired a new position in Onsemi during the fourth quarter worth about $33,000. Westside Investment Management Inc. raised its stake in Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the last quarter. 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.