Onsemi (NASDAQ:ON) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its holdings in shares of Onsemi (NASDAQ:ON) by 42.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,422 shares of the semiconductor company’s stock after selling 7,654 shares during the period. Pitcairn Co.’s holdings in Onsemi were worth $657,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ON. Newbridge Financial Services Group Inc. acquired a new position in Onsemi during the fourth quarter worth about $41,000. Synergy Asset Management LLC acquired a new stake in shares of Onsemi in the 4th quarter worth approximately $51,000. Plato Investment Management Ltd acquired a new stake in shares of Onsemi in the 4th quarter worth approximately $51,000. Rakuten Securities Inc. increased its stake in Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 691 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in Onsemi by 67.9% during the third quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 380 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Down 5.2 %

Shares of ON opened at $33.70 on Friday. Onsemi has a one year low of $33.21 and a one year high of $80.08. The stock has a 50-day moving average price of $47.20 and a 200 day moving average price of $60.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The company has a market capitalization of $14.20 billion, a P/E ratio of 9.28, a P/E/G ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Sell-side analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Craig Hallum lowered their target price on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Jefferies Financial Group cut their price target on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Truist Financial decreased their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

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.