Silvercrest Asset Management Group LLC Makes New Investment in Onsemi (NASDAQ:ON)

Silvercrest Asset Management Group LLC purchased a new stake in shares of Onsemi (NASDAQ:ON - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 169,630 shares of the semiconductor company's stock, valued at approximately $10,695,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC boosted its stake in shares of Onsemi by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 207 shares during the period. Assetmark Inc. grew its holdings in Onsemi by 0.3% in the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock worth $4,949,000 after acquiring an additional 235 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Onsemi by 3.9% in the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock valued at $424,000 after acquiring an additional 252 shares during the period. Huntington National Bank raised its stake in shares of Onsemi by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock valued at $209,000 after acquiring an additional 271 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its holdings in shares of Onsemi by 6.9% during the fourth quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company's stock worth $275,000 after purchasing an additional 282 shares during the period. Institutional investors own 97.70% of the company's stock.

Onsemi Trading Down 1.4%

ON traded down $0.60 during trading hours on Wednesday, reaching $43.66. The company's stock had a trading volume of 8,595,728 shares, compared to its average volume of 7,769,164. The stock has a market cap of $18.24 billion, a PE ratio of 12.03, a P/E/G ratio of 16.74 and a beta of 1.39. Onsemi has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The business's 50-day moving average is $39.83 and its 200-day moving average is $52.59.

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

Analyst Ratings Changes

ON has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price 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. Roth Capital set a $60.00 price objective on shares of Onsemi in a report on Friday, March 7th. KeyCorp cut their price objective on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on Onsemi from $60.00 to $48.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. 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 report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently 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.