Onsemi (NASDAQ:ON) Shares Sold by Bellwether Advisors LLC

Bellwether Advisors LLC reduced its position in shares of Onsemi (NASDAQ:ON - Free Report) by 95.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,077 shares of the semiconductor company's stock after selling 152,596 shares during the period. Bellwether Advisors LLC's holdings in Onsemi were worth $509,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ON. Nordea Investment Management AB increased its holdings in Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock worth $25,724,000 after purchasing an additional 82,614 shares during the period. Blue Trust Inc. increased its position in Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock worth $509,000 after buying an additional 1,119 shares during the period. Oak Thistle LLC acquired a new stake in Onsemi during the 4th quarter worth $515,000. Deltec Asset Management LLC acquired a new position in shares of Onsemi in the fourth quarter valued at approximately $6,343,000. Finally, World Investment Advisors LLC purchased a new position in Onsemi during the 3rd quarter worth $1,087,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ON. Stifel Nicolaus reduced their price target on shares of Onsemi from $52.00 to $42.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price target on shares of Onsemi in a report on Monday, March 3rd. Wells Fargo & Company decreased their target price on shares of Onsemi from $80.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price objective on Onsemi from $88.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, B. Riley downgraded Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price target for the company. in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.24.

Onsemi Stock Up 2.2 %

Onsemi stock traded up $0.84 during trading hours on Wednesday, hitting $39.70. The stock had a trading volume of 7,280,895 shares, compared to its average volume of 7,448,427. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The stock's 50-day moving average price is $40.94 and its 200-day moving average price is $55.42. 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 stock has a market capitalization of $16.76 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. Equities research analysts anticipate that Onsemi will post 2.6 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.