Onsemi (NASDAQ:ON) Shares Gap Down to $73.35

Onsemi (NASDAQ:ON)’s share price gapped down before the market opened on Friday . The stock had previously closed at $73.35, but opened at $71.04. Onsemi shares last traded at $70.38, with a volume of 1,082,611 shares.

Analyst Ratings Changes

Several equities analysts have commented on ON shares. JPMorgan Chase & Co. lifted their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Benchmark lifted their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of Onsemi in a report on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.61.

Onsemi Price Performance

The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The company has a market cap of $29.78 billion, a PE ratio of 14.08, a P/E/G ratio of 3.72 and a beta of 1.66. The firm has a 50 day moving average of $72.99 and a two-hundred day moving average of $72.28.

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

Insider Buying and Selling at Onsemi

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

Institutional Investors Weigh In On Onsemi

A number of large investors have recently added to or reduced their stakes in ON. Westside Investment Management Inc. increased its position in shares of Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Onsemi by 36.7% in the second 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 during the period. International Assets Investment Management LLC purchased a new position in shares of Onsemi during the 2nd quarter worth $43,000. Fidelis Capital Partners LLC bought a new stake in shares of Onsemi during the 1st quarter valued at $45,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Onsemi in the 2nd quarter worth $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.