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

Alpine Global Management LLC lowered its stake in Onsemi (NASDAQ:ON - Free Report) by 77.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after acquiring an additional 1,041,989 shares during the period. Norges Bank purchased a new position in Onsemi during the fourth quarter worth about $378,312,000. Dimensional Fund Advisors LP increased its stake in Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after acquiring an additional 771,610 shares during the last quarter. Finally, Capital International Investors raised its holdings in Onsemi by 0.7% in the 4th quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company's stock valued at $265,737,000 after buying an additional 31,365 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Shares of NASDAQ:ON traded down $0.01 during trading on Wednesday, hitting $43.39. 2,446,743 shares of the company traded hands, compared to its average volume of 7,784,241. Onsemi has a one year low of $31.04 and a one year high of $80.08. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 16.74 and a beta of 1.39. 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 business's fifty day moving average is $39.72 and its 200-day moving average is $51.60.

Onsemi (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company earned $1.08 earnings per share. Onsemi's revenue was down 22.4% compared to the same quarter last year. As a group, equities analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ON. KeyCorp cut their target price on shares of Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their price objective on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Craig Hallum cut their price objective on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, February 11th. Wells Fargo & Company reduced their price objective on shares of Onsemi from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, UBS Group cut their price target on shares of Onsemi from $55.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.12.

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.