Strs Ohio Cuts Stock Position in Onsemi (NASDAQ:ON)

Strs Ohio lowered its position in Onsemi (NASDAQ:ON) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 221,128 shares of the semiconductor company’s stock after selling 1,417 shares during the period. Strs Ohio’s holdings in Onsemi were worth $18,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. S. R. Schill & Associates grew its position in Onsemi by 17.6% during the 4th quarter. S. R. Schill & Associates now owns 4,580 shares of the semiconductor company’s stock worth $383,000 after purchasing an additional 687 shares during the last quarter. Vontobel Holding Ltd. grew its position in Onsemi by 4.0% during the 4th quarter. Vontobel Holding Ltd. now owns 168,553 shares of the semiconductor company’s stock worth $14,079,000 after purchasing an additional 6,469 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Onsemi during the 4th quarter worth approximately $5,029,000. Crestwood Advisors Group LLC purchased a new stake in Onsemi during the 4th quarter worth approximately $640,000. Finally, Perigon Wealth Management LLC lifted its stake in Onsemi by 7.7% during the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 1.4 %

Shares of ON opened at $64.72 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. Onsemi has a 12-month low of $61.47 and a 12-month high of $111.35. The firm has a 50-day moving average price of $75.68 and a 200 day moving average price of $76.84. The firm has a market capitalization of $27.82 billion, a P/E ratio of 13.24, a P/E/G ratio of 6.36 and a beta of 1.80.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ON. Needham & Company LLC restated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. The Goldman Sachs Group decreased their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday. Roth Mkm boosted their target price on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Truist Financial decreased their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.52.

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.