CoreCap Advisors LLC Sells 2,160 Shares of Onsemi (NASDAQ:ON)

CoreCap Advisors LLC lessened its stake in Onsemi (NASDAQ:ON) by 43.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,768 shares of the semiconductor company’s stock after selling 2,160 shares during the period. CoreCap Advisors LLC’s holdings in Onsemi were worth $231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Dana Investment Advisors Inc. lifted its stake in shares of Onsemi by 0.9% in the second quarter. Dana Investment Advisors Inc. now owns 14,460 shares of the semiconductor company’s stock worth $1,368,000 after acquiring an additional 129 shares during the period. Arkadios Wealth Advisors raised its position in shares of Onsemi by 3.3% during the third quarter. Arkadios Wealth Advisors now owns 4,163 shares of the semiconductor company’s stock worth $387,000 after purchasing an additional 132 shares during the period. Ballentine Partners LLC raised its position in shares of Onsemi by 1.7% during the third quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company’s stock worth $731,000 after purchasing an additional 134 shares during the period. Raymond James Trust N.A. raised its position in shares of Onsemi by 3.2% during the second quarter. Raymond James Trust N.A. now owns 4,723 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 145 shares during the period. Finally, Private Trust Co. NA raised its position in shares of Onsemi by 13.2% during the third quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their target price on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. JPMorgan Chase & Co. decreased their price target on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Needham & Company LLC reiterated a “buy” rating and set a $92.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Finally, Mizuho decreased their price target on Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.79.

Onsemi Stock Up 3.7 %

ON stock opened at $75.61 on Thursday. The stock has a fifty day moving average of $76.74 and a 200-day moving average of $79.34. The company has a market capitalization of $32.57 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 7.12 and a beta of 1.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. Onsemi has a fifty-two week low of $61.47 and a fifty-two week high of $111.35.

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, topping analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 EPS. As a group, equities research analysts predict that Onsemi will post 4.34 earnings per share for the current year.

Onsemi Company 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.