NEW YORK (

TheStreet

) --

ON Semiconductor Corporation

(Nasdaq:

ONNN

) hit a new 52-week low Thursday as it is currently trading at $6.52, below its previous 52-week low of $6.53 with 5.2 million shares traded as of 3:05 p.m. ET. Average volume has been 6.9 million shares over the past 30 days.

ON Semiconductor has a market cap of $3.1 billion and is part of the

technology

sector and

electronics

industry. Shares are down 11.7% year to date as of the close of trading on Wednesday.

ON Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and markets semiconductor components for electronic systems and products worldwide. The company has a P/E ratio of 682, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates ON Semiconductor as a

hold

. The company's strengths can be seen in multiple areas, such as its expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself. You can view the full

ON Semiconductor Ratings Report

.

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