Zurcher Kantonalbank Zurich Cantonalbank Has $10.35 Million Holdings in Onsemi (NASDAQ:ON)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Onsemi (NASDAQ:ON) by 76.3% in the fourth quarter, Holdings Channel reports. The fund owned 123,843 shares of the semiconductor company’s stock after selling 398,469 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Onsemi were worth $10,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ON. International Assets Investment Management LLC grew its stake in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after buying an additional 82,301 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the last quarter. Synergy Asset Management LLC increased its stake in shares of Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after buying an additional 73,909 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of Onsemi in the fourth quarter valued at about $1,137,000. Finally, Chicago Capital LLC bought a new stake in Onsemi during the 4th quarter worth about $3,860,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Down 3.5 %

Onsemi stock opened at $60.71 on Friday. The company has a 50 day moving average of $74.67 and a 200-day moving average of $76.43. 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 has a twelve month low of $60.26 and a twelve month high of $111.35. The stock has a market capitalization of $26.10 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 6.13 and a beta of 1.80.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping 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 period in the prior year, the business earned $1.32 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Onsemi will post 4.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Susquehanna restated a “positive” rating and set a $90.00 target price on shares of Onsemi in a research report on Monday, April 8th. KeyCorp raised their price target on Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Truist Financial lowered their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.52.

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.