First Trust Advisors LP Reduces Position in Onsemi (NASDAQ:ON)

First Trust Advisors LP decreased its holdings in Onsemi (NASDAQ:ON) by 13.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,077,772 shares of the semiconductor company’s stock after selling 472,014 shares during the period. First Trust Advisors LP’s holdings in Onsemi were worth $194,053,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ON. Vanguard Group Inc. grew its holdings in shares of Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after acquiring an additional 344,354 shares during the period. Norges Bank bought a new stake in shares of Onsemi during the 4th quarter valued at about $378,312,000. Capital International Investors lifted its stake in shares of Onsemi by 0.7% in the 4th quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company’s stock worth $265,737,000 after purchasing an additional 31,365 shares during the period. Allspring Global Investments Holdings LLC grew its position in Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Onsemi by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock worth $156,884,000 after acquiring an additional 83,665 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of Onsemi stock opened at $34.64 on Friday. 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 has a 12 month low of $31.04 and a 12 month high of $80.08. The stock has a 50 day moving average of $43.28 and a 200 day moving average of $57.12. The firm has a market cap of $14.62 billion, a PE ratio of 9.54, a PEG ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last posted its 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%. On average, research analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ON shares. Roth Capital set a $60.00 target price on Onsemi in a research report on Friday, March 7th. KeyCorp decreased their price objective on Onsemi from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Susquehanna cut their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. Jefferies Financial Group reduced their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Truist Financial lowered their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $63.52.

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.