Swiss National Bank Reduces Stake in Onsemi (NASDAQ:ON)

Swiss National Bank reduced its holdings in Onsemi (NASDAQ:ON - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,349,400 shares of the semiconductor company's stock after selling 39,800 shares during the quarter. Swiss National Bank owned about 0.31% of Onsemi worth $112,715,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Provence Wealth Management Group bought a new stake in Onsemi in the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi during the 4th quarter valued at $32,000. Hanseatic Management Services Inc. acquired a new position in Onsemi during the third quarter worth $38,000. Headinvest LLC bought a new position in shares of Onsemi in the third quarter valued at $44,000. Finally, Planned Solutions Inc. bought a new position in shares of Onsemi in the fourth quarter valued at $46,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Price Performance

ON stock traded up $0.36 during mid-day trading on Friday, hitting $70.37. 6,516,692 shares of the stock were exchanged, compared to its average volume of 7,968,687. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. The business has a fifty day moving average price of $72.35 and a 200 day moving average price of $74.65. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The stock has a market capitalization of $30.28 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 3.16 and a beta of 1.78.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company's revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Onsemi will post 3.86 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ON. JPMorgan Chase & Co. dropped their price objective on Onsemi from $95.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 6th. B. Riley reaffirmed a "buy" rating and issued a $103.00 price objective (down from $115.00) on shares of Onsemi in a research report on Tuesday. Rosenblatt Securities dropped their target price on shares of Onsemi from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday. StockNews.com raised Onsemi from a "sell" rating to a "hold" rating in a report on Wednesday, February 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $92.00 price target on shares of Onsemi in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.24.

Onsemi 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.