Sanctuary Wealth Management L.L.C. Sells 1,966 Shares of Onsemi (NASDAQ:ON)

Sanctuary Wealth Management L.L.C. trimmed its stake in shares of Onsemi (NASDAQ:ON) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,200 shares of the semiconductor company’s stock after selling 1,966 shares during the period. Onsemi makes up about 0.9% of Sanctuary Wealth Management L.L.C.’s investment portfolio, making the stock its 20th biggest position. Sanctuary Wealth Management L.L.C.’s holdings in Onsemi were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after purchasing an additional 344,354 shares during the period. Geode Capital Management LLC boosted its stake in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares during the last quarter. Norges Bank acquired a new stake in shares of Onsemi during the 4th quarter worth approximately $378,312,000. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after buying an additional 1,037,624 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Onsemi by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after buying an additional 83,665 shares during the period. 97.70% of the stock is owned by institutional investors.

Onsemi Trading Down 6.4 %

Shares of NASDAQ:ON opened at $40.94 on Friday. The company’s 50-day moving average price is $48.92 and its two-hundred day moving average price is $61.21. Onsemi has a one year low of $40.62 and a one year 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 stock has a market capitalization of $17.25 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, equities analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the subject of several recent research reports. UBS Group cut their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. The Goldman Sachs Group cut their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Mizuho decreased their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Roth Mkm cut their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus decreased their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.50.

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.