Global Retirement Partners LLC Decreases Stock Position in Onsemi (NASDAQ:ON)

Global Retirement Partners LLC lessened its stake in Onsemi (NASDAQ:ON) by 44.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,770 shares of the semiconductor company’s stock after selling 3,006 shares during the quarter. Global Retirement Partners LLC’s holdings in Onsemi were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ON. Dana Investment Advisors Inc. boosted its stake in shares of Onsemi by 0.9% during the 2nd quarter. Dana Investment Advisors Inc. now owns 14,460 shares of the semiconductor company’s stock valued at $1,368,000 after buying an additional 129 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Onsemi by 3.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 4,163 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 132 shares during the last quarter. Ballentine Partners LLC lifted its stake in 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 last quarter. Raymond James Trust N.A. lifted its stake in 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 last quarter. Finally, Private Trust Co. NA lifted its stake in 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 last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 4.6 %

Shares of ON stock opened at $70.48 on Wednesday. The stock has a 50-day simple moving average of $76.59 and a 200 day simple moving average of $78.56. Onsemi has a fifty-two week low of $61.47 and a fifty-two week high of $111.35. The stock has a market capitalization of $30.36 billion, a P/E ratio of 14.41, a P/E/G ratio of 7.12 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33.

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 return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the business posted $1.32 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Onsemi will post 4.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ON. JPMorgan Chase & Co. reduced their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. TD Cowen raised their price objective on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Roth Mkm increased their target price on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.79.

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.