Onsemi (NASDAQ:ON) Position Trimmed by Toronto Dominion Bank

Toronto Dominion Bank reduced its position in shares of Onsemi (NASDAQ:ON - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,450 shares of the semiconductor company's stock after selling 9,378 shares during the quarter. Toronto Dominion Bank's holdings in Onsemi were worth $9,990,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ON. Truvestments Capital LLC increased its holdings in Onsemi by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock worth $357,000 after purchasing an additional 207 shares in the last quarter. Assetmark Inc. increased its holdings in Onsemi by 0.3% during the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock worth $4,949,000 after purchasing an additional 235 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock worth $424,000 after purchasing an additional 252 shares in the last quarter. Huntington National Bank increased its holdings in Onsemi by 8.9% during the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock worth $209,000 after purchasing an additional 271 shares in the last quarter. Finally, Clear Creek Financial Management LLC increased its holdings in Onsemi by 6.9% during the 4th 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 in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Performance

ON traded down $1.02 on Friday, reaching $41.27. The stock had a trading volume of 9,856,817 shares, compared to its average volume of 7,787,318. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The business's 50-day moving average price is $39.76 and its two-hundred day moving average price is $52.14. The company has a market cap of $17.25 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

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

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group decreased their price objective on Onsemi from $77.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Roth Capital set a $60.00 price objective on Onsemi in a report on Friday, March 7th. KeyCorp decreased their price objective on Onsemi from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. TD Cowen upped their target price on Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on Onsemi from $60.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.12.

About Onsemi

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.