Corient Private Wealth LLC Trims Stake in Onsemi (NASDAQ:ON)

Corient Private Wealth LLC reduced its stake in shares of Onsemi (NASDAQ:ON) by 43.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,533 shares of the semiconductor company’s stock after selling 59,051 shares during the quarter. Corient Private Wealth LLC’s holdings in Onsemi were worth $4,825,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC grew its holdings in Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 207 shares during the period. Assetmark Inc. grew its holdings in Onsemi by 0.3% in the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock valued at $4,949,000 after purchasing an additional 235 shares during the period. V Square Quantitative Management LLC grew its holdings in Onsemi by 3.9% in the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock valued at $424,000 after purchasing an additional 252 shares during the period. Clear Creek Financial Management LLC grew its holdings in Onsemi by 6.9% in the fourth quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock valued at $275,000 after purchasing an additional 282 shares during the period. Finally, Savant Capital LLC grew its holdings in Onsemi by 9.9% in the fourth quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 297 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Price Performance

NASDAQ:ON opened at $43.78 on Friday. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $18.45 billion, a P/E ratio of 12.06, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 52 week low of $41.59 and a 52 week high of $80.08. The stock’s fifty day moving average is $50.00 and its two-hundred day moving average is $62.14.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results 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 return on equity of 20.10% and a net margin of 22.21%. Equities analysts expect that Onsemi will post 2.6 EPS for the current year.

Analysts Set New Price Targets

ON has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Susquehanna lowered their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research note on Tuesday, February 11th. KeyCorp lowered their price target on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Citigroup lowered their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Morgan Stanley lowered their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.85.

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.