Onsemi (NASDAQ:ON) Shares Sold by Paradiem LLC

Paradiem LLC decreased its position in shares of Onsemi (NASDAQ:ON) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,762 shares of the semiconductor company’s stock after selling 1,074 shares during the quarter. Paradiem LLC’s holdings in Onsemi were worth $2,987,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ON. Provence Wealth Management Group acquired a new stake in Onsemi in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Onsemi in the 4th quarter valued at $32,000. Hanseatic Management Services Inc. purchased a new position in Onsemi in the 3rd quarter valued at $38,000. Headinvest LLC purchased a new position in Onsemi in the 3rd quarter valued at $44,000. Finally, First Pacific Financial purchased a new position in Onsemi in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

ON has been the topic of a number of research reports. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday, February 6th. BNP Paribas reiterated an “underperform” rating and set a $55.00 price target on shares of Onsemi in a report on Friday, April 19th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Evercore ISI began coverage on Onsemi in a report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price target on the stock. Finally, Morgan Stanley reduced their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.28.

Onsemi Stock Performance

Shares of Onsemi stock traded up $1.68 during trading hours on Friday, hitting $68.06. 12,858,958 shares of the company were exchanged, compared to its average volume of 6,676,611. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $73.11 and a 200-day moving average of $75.55. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 6.71 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts expect that Onsemi will post 4.26 EPS for the current fiscal year.

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.