Onsemi (NASDAQ:ON) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its stake in shares of Onsemi (NASDAQ:ON) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 124,582 shares of the semiconductor company’s stock after selling 1,604 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Onsemi were worth $10,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ON. CWM LLC grew its holdings in Onsemi by 51.2% in the 3rd quarter. CWM LLC now owns 10,646 shares of the semiconductor company’s stock worth $990,000 after buying an additional 3,606 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Onsemi by 3.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 4,163 shares of the semiconductor company’s stock worth $387,000 after buying an additional 132 shares in the last quarter. HB Wealth Management LLC grew its holdings in Onsemi by 45.3% in the 3rd quarter. HB Wealth Management LLC now owns 3,151 shares of the semiconductor company’s stock worth $293,000 after buying an additional 982 shares in the last quarter. RFG Advisory LLC grew its holdings in Onsemi by 23.7% in the 3rd quarter. RFG Advisory LLC now owns 3,859 shares of the semiconductor company’s stock worth $359,000 after buying an additional 739 shares in the last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in Onsemi by 1,688.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 3,577 shares of the semiconductor company’s stock worth $332,000 after buying an additional 3,377 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday. Mizuho decreased their price target on Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Stifel Nicolaus decreased their price target on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Evercore ISI initiated coverage on Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price objective for the company. Finally, BNP Paribas reiterated an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.28.

Onsemi Stock Performance

Shares of NASDAQ:ON traded up $0.54 during midday trading on Tuesday, hitting $61.19. The company’s stock had a trading volume of 2,380,552 shares, compared to its average volume of 7,254,388. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 5.92 and a beta of 1.80. The stock’s 50 day simple moving average is $74.26 and its 200 day simple moving average is $76.05. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Onsemi will post 4.31 earnings per share for the current 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.