Edgestream Partners L.P. Sells 3,589 Shares of Onsemi (NASDAQ:ON)

Edgestream Partners L.P. reduced its stake in Onsemi (NASDAQ:ON) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,106 shares of the semiconductor company’s stock after selling 3,589 shares during the period. Edgestream Partners L.P.’s holdings in Onsemi were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its position in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Onsemi by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after purchasing an additional 83,665 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after purchasing an additional 326,734 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ON. JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Truist Financial lowered their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Mizuho lowered their price target on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Roth Mkm lowered their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Morgan Stanley lowered their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.85.

Onsemi Stock Performance

Onsemi stock opened at $44.16 on Tuesday. The stock has a market cap of $18.61 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The firm’s fifty day moving average price is $53.59 and its 200-day moving average price is $64.25. Onsemi has a fifty-two week low of $43.33 and a fifty-two week high of $82.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. On average, equities research analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Onsemi Profile

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.