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.
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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 robust revenue growth, reasonable valuation levels and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow. You can view the full ON Semiconductor Ratings Report.

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