Meeder Asset Management Inc. Trims Holdings in Onsemi (NASDAQ:ON)

Meeder Asset Management Inc. lowered its position in Onsemi (NASDAQ:ON) by 84.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,497 shares of the semiconductor company’s stock after selling 36,124 shares during the period. Meeder Asset Management Inc.’s holdings in Onsemi were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. D.A. Davidson & CO. boosted its holdings in Onsemi by 8.5% in the third quarter. D.A. Davidson & CO. now owns 7,061 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 552 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of Onsemi by 105.0% in the third quarter. Townsquare Capital LLC now owns 6,561 shares of the semiconductor company’s stock worth $476,000 after buying an additional 3,360 shares during the last quarter. Public Sector Pension Investment Board raised its position in Onsemi by 8.9% during the third quarter. Public Sector Pension Investment Board now owns 18,409 shares of the semiconductor company’s stock valued at $1,337,000 after acquiring an additional 1,500 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Onsemi in the 3rd quarter worth approximately $2,229,000. Finally, Atom Investors LP increased its holdings in shares of Onsemi by 2.8% during the 3rd quarter. Atom Investors LP now owns 42,827 shares of the semiconductor company’s stock valued at $3,110,000 after purchasing an additional 1,153 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

NASDAQ:ON opened at $40.69 on Tuesday. The company’s 50-day moving average is $48.64 and its two-hundred day moving average is $60.94. Onsemi has a 1-year low of $39.36 and a 1-year high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 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%. Analysts forecast that Onsemi will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ON. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. Morgan Stanley dropped their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. Roth Mkm dropped their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. UBS Group decreased their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup reduced their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.