Mercer Global Advisors Inc. ADV Has $1.87 Million Holdings in Onsemi (NASDAQ:ON)

Mercer Global Advisors Inc. ADV decreased its stake in shares of Onsemi (NASDAQ:ON) by 31.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,641 shares of the semiconductor company’s stock after selling 13,535 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Onsemi were worth $1,869,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Nordea Investment Management AB grew its holdings in Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Onsemi by 61.0% in the fourth quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 1,758 shares during the period. Czech National Bank grew its stake in shares of Onsemi by 5.8% in the fourth quarter. Czech National Bank now owns 92,322 shares of the semiconductor company’s stock worth $5,821,000 after acquiring an additional 5,062 shares during the last quarter. Bar Harbor Wealth Management increased its position in Onsemi by 5.7% during the fourth quarter. Bar Harbor Wealth Management now owns 33,987 shares of the semiconductor company’s stock worth $2,143,000 after acquiring an additional 1,845 shares during the period. Finally, Oak Thistle LLC acquired a new position in Onsemi during the 4th quarter valued at $515,000. 97.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ON shares. Truist Financial cut their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on Onsemi from $52.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Roth Mkm lowered their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reduced their target price on Onsemi from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Robert W. Baird lowered their price target on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.32.

Onsemi Price Performance

Shares of ON stock opened at $38.80 on Thursday. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $16.38 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 16.74 and a beta of 1.39. The firm’s 50 day moving average is $39.89 and its 200-day moving average is $54.37. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. Sell-side analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

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.