Onsemi (NASDAQ:ON) Shares Sold by Financial Perspectives Inc

Financial Perspectives Inc reduced its position in Onsemi (NASDAQ:ON) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,240 shares of the semiconductor company’s stock after selling 410 shares during the period. Financial Perspectives Inc’s holdings in Onsemi were worth $104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Provence Wealth Management Group acquired a new position in shares of Onsemi in the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at about $32,000. Hanseatic Management Services Inc. purchased a new stake in shares of Onsemi during the 3rd quarter valued at about $38,000. Headinvest LLC purchased a new stake in shares of Onsemi during the 3rd quarter valued at about $44,000. Finally, First Pacific Financial purchased a new stake in shares of Onsemi during the 3rd quarter valued at about $45,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Performance

ON stock traded up $1.03 during mid-day trading on Tuesday, reaching $61.68. The company had a trading volume of 6,890,262 shares, compared to its average volume of 7,314,261. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $26.51 billion, a P/E ratio of 12.61, a P/E/G ratio of 5.92 and a beta of 1.80. Onsemi has a one year low of $59.34 and a one year high of $111.35. The stock’s 50-day simple moving average is $73.93 and its two-hundred day simple moving average is $75.84.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the business earned $1.32 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Research analysts anticipate that Onsemi will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen raised their target price on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Truist Financial dropped their target price on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. The Goldman Sachs Group dropped their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Finally, StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.28.

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.