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

Onsemi (NASDAQ:ON) shares 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 trading hands.

Analysts Set New Price Targets

ON has been the subject of a number of analyst reports. Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $77.00 in a report on Monday, July 15th. KeyCorp decreased their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Benchmark boosted their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $92.00 target price on shares of Onsemi in a report on Thursday, June 13th. Finally, Rosenblatt Securities lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.61.

Onsemi Price Performance

The company has a 50 day moving average of $72.43 and a 200-day moving average of $71.80. The firm has a market capitalization of $30.91 billion, a P/E ratio of 14.79, a P/E/G ratio of 3.78 and a beta of 1.66. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Onsemi

Several institutional investors have recently bought and sold shares of the stock. Westside Investment Management Inc. lifted 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 buying an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Onsemi in the second quarter worth about $43,000. Fidelis Capital Partners LLC purchased a new position in shares of Onsemi in the first quarter worth $45,000. Finally, Oakworth Capital Inc. bought a new stake in Onsemi during the 2nd quarter valued at $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.