Pacer Advisors Inc. Sells 72,946 Shares of Onsemi (NASDAQ:ON)

Pacer Advisors Inc. decreased its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 55.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,455 shares of the semiconductor company's stock after selling 72,946 shares during the period. Pacer Advisors Inc.'s holdings in Onsemi were worth $4,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Provence Wealth Management Group purchased a new position in shares of Onsemi during the 3rd quarter valued at approximately $25,000. FinTrust Capital Advisors LLC purchased a new position in Onsemi in the 4th quarter valued at $25,000. Ancora Advisors LLC purchased a new position in Onsemi in the 1st quarter valued at $33,000. Hanseatic Management Services Inc. purchased a new position in Onsemi in the 3rd quarter valued at $38,000. Finally, Headinvest LLC purchased a new position in Onsemi in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

Onsemi Price Performance

ON stock traded down $2.06 on Friday, reaching $73.55. 7,408,866 shares of the company's stock were exchanged, compared to its average volume of 6,550,013. The stock has a fifty day moving average of $76.74 and a 200-day moving average of $79.13. Onsemi has a twelve month low of $61.47 and a twelve month high of $111.35. The firm has a market cap of $31.68 billion, a PE ratio of 15.04, a P/E/G ratio of 7.32 and a beta of 1.81. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. Onsemi's revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 earnings per share. As a group, equities analysts predict that Onsemi will post 4.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Rosenblatt Securities restated a "neutral" rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday, February 6th. Mizuho reduced their price target on Onsemi from $98.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, February 6th. Roth Mkm lifted their price target on Onsemi from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. KeyCorp lifted their price target on Onsemi from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, February 6th. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $82.00 price target on shares of Onsemi in a report on Thursday, March 14th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.79.

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.