HighPoint Advisor Group LLC Has $622,000 Stake in Onsemi (NASDAQ:ON)

HighPoint Advisor Group LLC lowered its holdings in Onsemi (NASDAQ:ON) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,865 shares of the semiconductor company’s stock after selling 650 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Onsemi were worth $622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares in the last quarter. Cinctive Capital Management LP bought a new stake in Onsemi during the third quarter worth $1,270,000. Blue Trust Inc. raised its position in Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,119 shares during the last quarter. Oak Thistle LLC bought a new position in Onsemi during the 4th quarter valued at $515,000. Finally, Deltec Asset Management LLC purchased a new position in Onsemi during the 4th quarter worth $6,343,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

NASDAQ:ON opened at $40.20 on Wednesday. The stock has a market cap of $16.94 billion, a P/E ratio of 11.07, a PEG ratio of 16.74 and a beta of 1.59. 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 business’s 50-day moving average price is $48.33 and its two-hundred day moving average price is $60.72. Onsemi has a twelve month low of $39.10 and a twelve month high of $80.08.

Onsemi (NASDAQ:ON) last released its earnings results 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%. As a group, equities analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ON has been the subject of several analyst reports. Mizuho lowered their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Craig Hallum dropped their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Susquehanna cut their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research note on Tuesday, February 11th. Roth Mkm dropped their price target on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Benchmark reduced their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Company 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.