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NEW YORK ( TheStreet) -- ON Semiconductor Corporation (Nasdaq: ONNN) hit a new 52-week low Tuesday as it is currently trading at $6.55, below its previous 52-week low of $6.58 with 60,135 shares traded as of 9:30 a.m. ET. Average volume has been 7.8 million shares over the past 30 days. ON Semiconductor has a market cap of $3.2 billion and is part of the technology sector and electronics industry. Shares are down 27.3% year to date as of the close of trading on Monday. ON Semiconductor Corporation designs, manufactures, and markets a portfolio of semiconductor components that addresses the design needs of electronic systems and products worldwide. The company has a P/E ratio of 12, below the average electronics industry P/E ratio of 12.4 and below the S&P 500 P/E ratio of 17.7.