Alpine Global Management LLC Has $1.15 Million Stake in Onsemi (NASDAQ:ON)

Alpine Global Management LLC lessened its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 77.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,200 shares of the semiconductor company's stock after selling 63,400 shares during the period. Alpine Global Management LLC's holdings in Onsemi were worth $1,148,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ON. Norges Bank acquired a new position in Onsemi during the fourth quarter valued at approximately $378,312,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 35.0% in the 4th 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. Dimensional Fund Advisors LP raised its stake in Onsemi by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after buying an additional 771,610 shares during the period. Vanguard Group Inc. lifted its holdings in Onsemi by 0.7% during 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 in the last quarter. Finally, Andra AP fonden increased its holdings in shares of Onsemi by 2,388.4% in the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company's stock worth $21,651,000 after acquiring an additional 329,600 shares in the last quarter. Institutional investors own 97.70% of the company's stock.

Analysts Set New Price Targets

ON has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price objective on shares of Onsemi in a research report on Monday, March 3rd. Morgan Stanley reduced their price target on shares of Onsemi from $52.00 to $44.00 and set an "underweight" rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on shares of Onsemi from $80.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. B. Riley lowered shares of Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 target price for the company. in a research note on Thursday. Finally, Truist Financial dropped their price target on Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.24.

Onsemi Stock Performance

Shares of NASDAQ ON traded down $0.33 during midday trading on Friday, hitting $39.63. 7,554,416 shares of the company's stock were exchanged, compared to its average volume of 7,480,759. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08. The company's 50 day moving average price is $41.87 and its 200 day moving average price is $55.96. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $16.73 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, analysts predict that Onsemi will post 2.6 earnings per share 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.