Paloma Partners Management Co Decreases Stake in Onsemi (NASDAQ:ON)

Paloma Partners Management Co lowered its holdings in Onsemi (NASDAQ:ON) by 96.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,000 shares of the semiconductor company’s stock after selling 2,915,251 shares during the quarter. Paloma Partners Management Co’s holdings in Onsemi were worth $7,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Northern Trust Corp raised its stake in shares of Onsemi by 8.4% in the fourth quarter. Northern Trust Corp now owns 3,787,829 shares of the semiconductor company’s stock worth $238,823,000 after purchasing an additional 292,225 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Onsemi by 608.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 309,573 shares of the semiconductor company’s stock valued at $19,519,000 after acquiring an additional 265,857 shares during the last quarter. Quarry LP increased its position in Onsemi by 7,766.7% during the fourth quarter. Quarry LP now owns 944 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 932 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in Onsemi during the fourth quarter valued at $588,000. Finally, Boothbay Fund Management LLC purchased a new stake in Onsemi during the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

NASDAQ ON opened at $40.04 on Tuesday. The stock has a market cap of $16.90 billion, a PE ratio of 11.03, a P/E/G ratio of 16.74 and a beta of 1.48. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08. The stock has a fifty day simple moving average of $41.56 and a 200-day simple moving average of $55.65. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. Equities analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ON shares. Needham & Company LLC reissued a “buy” rating and issued a $57.00 target price on shares of Onsemi in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group lowered their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. B. Riley downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $62.24.

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.