Onsemi (NASDAQ:ON) is Malaga Cove Capital LLC’s Largest Position

Malaga Cove Capital LLC cut its holdings in Onsemi (NASDAQ:ON) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 238,213 shares of the semiconductor company’s stock after selling 802 shares during the quarter. Onsemi comprises 8.4% of Malaga Cove Capital LLC’s investment portfolio, making the stock its biggest holding. Malaga Cove Capital LLC’s holdings in Onsemi were worth $19,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ON. Provence Wealth Management Group acquired a new stake in shares of Onsemi during the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi during the fourth quarter worth $32,000. Hanseatic Management Services Inc. purchased a new stake in Onsemi during the third quarter worth $38,000. Headinvest LLC acquired a new stake in Onsemi in the third quarter valued at $44,000. Finally, Planned Solutions Inc. purchased a new position in shares of Onsemi in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

ON has been the subject of a number of research reports. Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price for the company. Rosenblatt Securities decreased their price objective on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley cut their target price on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. KeyCorp lowered their price target on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Finally, StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.24.

Onsemi Stock Up 0.5 %

Onsemi stock traded up $0.36 during midday trading on Friday, hitting $70.37. 6,516,692 shares of the company were exchanged, compared to its average volume of 7,968,687. The company has a market cap of $30.28 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 3.18 and a beta of 1.78. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The company’s fifty day moving average price is $72.35 and its 200-day moving average price is $74.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 earnings per share. On average, research analysts predict that Onsemi will post 3.86 EPS for the current fiscal year.

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.