Onsemi (NASDAQ:ON) Shares Sold by Paradiem LLC

Paradiem LLC decreased its position in Onsemi (NASDAQ:ON) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 35,762 shares of the semiconductor company’s stock after selling 1,074 shares during the period. Paradiem LLC’s holdings in Onsemi were worth $2,987,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ON. DAVENPORT & Co LLC raised its position in shares of Onsemi by 8.5% during the third quarter. DAVENPORT & Co LLC now owns 11,267 shares of the semiconductor company’s stock worth $1,047,000 after purchasing an additional 882 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Onsemi by 199.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 2,707 shares during the period. Private Trust Co. NA raised its position in shares of Onsemi by 13.2% during the third quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 149 shares during the period. Caprock Group LLC raised its position in shares of Onsemi by 44.9% during the third quarter. Caprock Group LLC now owns 3,570 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 1,107 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of Onsemi by 5.3% during the third quarter. Asset Management One Co. Ltd. now owns 222,217 shares of the semiconductor company’s stock worth $20,655,000 after purchasing an additional 11,232 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

NASDAQ:ON traded up $1.68 during mid-day trading on Friday, hitting $68.06. 12,858,958 shares of the company’s stock traded hands, compared to its average volume of 6,676,611. The firm has a 50 day moving average of $73.11 and a two-hundred day moving average of $75.55. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The firm has a market capitalization of $29.26 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 EPS. On average, equities analysts forecast that Onsemi will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ON has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. JPMorgan Chase & Co. dropped their price target on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Needham & Company LLC reissued a “buy” rating and set a $92.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. The Goldman Sachs Group dropped their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.28.

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.