ON Semiconductor Stock Falls On Unusually High Volume (ONNN)

NEW YORK ( TheStreet) -- ON Semiconductor Corporation (Nasdaq: ONNN) is trading at unusually high volume Wednesday with 31.4 million shares changing hands. It is currently at 4.2 times its average daily volume and trading down $1.25 (-15.5%) at $6.81 as of four p.m. ET.

ON Semiconductor has a market cap of $3.5 billion and is part of the technology sector and electronics industry. Shares are down 21.1% year to date as of the close of trading on Tuesday.

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 13.6, above the average electronics industry P/E ratio of 13.4 and below the S&P 500 P/E ratio of 17.7.

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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