Financial Perspectives Inc Sells 410 Shares of Onsemi (NASDAQ:ON)

Financial Perspectives Inc lessened its stake in shares of Onsemi (NASDAQ:ON) by 24.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,240 shares of the semiconductor company’s stock after selling 410 shares during the period. Financial Perspectives Inc’s holdings in Onsemi were worth $104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ON. Invesco Ltd. increased its holdings in Onsemi by 26.0% during the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after buying an additional 1,200,723 shares during the period. Ameriprise Financial Inc. increased its holdings in Onsemi by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after buying an additional 817,237 shares during the period. Northern Trust Corp increased its holdings in Onsemi by 4.3% during the third quarter. Northern Trust Corp now owns 4,117,862 shares of the semiconductor company’s stock valued at $382,755,000 after buying an additional 171,432 shares during the period. Alphinity Investment Management Pty Ltd increased its holdings in Onsemi by 2.7% during the third quarter. Alphinity Investment Management Pty Ltd now owns 2,845,345 shares of the semiconductor company’s stock valued at $264,475,000 after buying an additional 75,730 shares during the period. Finally, Sei Investments Co. increased its holdings in Onsemi by 0.7% during the third quarter. Sei Investments Co. now owns 2,701,574 shares of the semiconductor company’s stock valued at $251,111,000 after buying an additional 19,740 shares during the period. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ON. Stifel Nicolaus cut their price target on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Mizuho cut their price target on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Morgan Stanley reduced their price target on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, TD Cowen raised their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.28.

Onsemi Trading Up 1.7 %

ON traded up $1.03 on Tuesday, hitting $61.68. The company had a trading volume of 6,890,262 shares, compared to its average volume of 7,314,261. The firm has a market cap of $26.51 billion, a P/E ratio of 12.61, a PEG ratio of 5.92 and a beta of 1.80. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company’s fifty day moving average price is $73.93 and its 200 day moving average price is $75.84. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. As a group, equities analysts expect that Onsemi will post 4.31 earnings per share for the current year.

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.