ON Semiconductor Stock Falls On Unusually High Volume (ONNN)

NEW YORK ( TheStreet) -- ON Semiconductor Corporation (Nasdaq: ONNN) is trading at unusually high volume Friday with 31.8 million shares changing hands. It is currently at four times its average daily volume and trading down 45 cents (-6.6%) at $6.39 as of 1:50 p.m. ET.

ON Semiconductor has a market cap of $3.14 billion and is part of the technology sector and electronics industry. Shares are down 10.5% year to date as of the close of trading on Thursday.

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 691, above 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 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 weak operating cash flow. You can view the full ON Semiconductor Ratings Report.

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