Fort Washington Investment Advisors Inc. OH Trims Stake in Onsemi (NASDAQ:ON)

Fort Washington Investment Advisors Inc. OH reduced its holdings in shares of Onsemi (NASDAQ:ON) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,431 shares of the semiconductor company’s stock after selling 1,069 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Onsemi were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ON. HighTower Advisors LLC increased its holdings in Onsemi by 3.2% during the first quarter. HighTower Advisors LLC now owns 27,412 shares of the semiconductor company’s stock valued at $1,716,000 after buying an additional 845 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Onsemi in the first quarter worth approximately $1,171,000. Yousif Capital Management LLC boosted its position in shares of Onsemi by 4.2% in the first quarter. Yousif Capital Management LLC now owns 9,877 shares of the semiconductor company’s stock worth $618,000 after purchasing an additional 395 shares during the period. Raymond James Trust N.A. boosted its position in shares of Onsemi by 15.4% in the first quarter. Raymond James Trust N.A. now owns 5,938 shares of the semiconductor company’s stock worth $372,000 after purchasing an additional 793 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of Onsemi by 22.0% in the first quarter. Blair William & Co. IL now owns 4,258 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 768 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Mizuho dropped their price target on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. TD Cowen upped 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. Truist Financial dropped their price target on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. JPMorgan Chase & Co. dropped their price target on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, KeyCorp upped their price target on shares of Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.79.

Onsemi Price Performance

ON stock opened at $75.61 on Thursday. Onsemi has a 52 week low of $61.47 and a 52 week high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $76.74 and a two-hundred day simple moving average of $79.34. The firm has a market capitalization of $32.57 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 7.06 and a beta of 1.81.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts anticipate that Onsemi will post 4.34 earnings per share for the current fiscal 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.