Signaturefd LLC Cuts Stock Position in Onsemi (NASDAQ:ON)

Signaturefd LLC lowered its stake in Onsemi (NASDAQ:ON) by 8.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,582 shares of the semiconductor company’s stock after selling 608 shares during the quarter. Signaturefd LLC’s holdings in Onsemi were worth $550,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ON. Invesco Ltd. boosted its stake in Onsemi by 26.0% during the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after purchasing an additional 1,200,723 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Onsemi by 55.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock valued at $195,124,000 after purchasing an additional 828,944 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Onsemi by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after purchasing an additional 817,237 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Onsemi during the 3rd quarter valued at $28,927,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Onsemi in the 3rd quarter worth $22,883,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ON shares. The Goldman Sachs Group dropped their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. BNP Paribas restated an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research note on Friday, April 19th. KeyCorp raised their price target on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Morgan Stanley dropped their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.28.

Onsemi Trading Up 6.2 %

Shares of Onsemi stock opened at $65.53 on Thursday. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 6.02 and a beta of 1.80. The business has a 50-day moving average price of $73.93 and a 200-day moving average price of $75.84. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 earnings per share. Equities research analysts anticipate that Onsemi will post 4.3 EPS for the current fiscal year.

About Onsemi

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.