Fisher Asset Management LLC Trims Holdings in Onsemi (NASDAQ:ON)

Fisher Asset Management LLC decreased its stake in shares of Onsemi (NASDAQ:ON) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 289,101 shares of the semiconductor company’s stock after selling 5,235 shares during the period. Fisher Asset Management LLC owned 0.07% of Onsemi worth $24,149,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ON. Provence Wealth Management Group purchased a new position in shares of Onsemi during the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Onsemi during the fourth quarter worth about $32,000. Hanseatic Management Services Inc. bought a new position in Onsemi in the 3rd quarter worth about $38,000. Headinvest LLC purchased a new stake in shares of Onsemi in the 3rd quarter valued at about $44,000. Finally, Planned Solutions Inc. bought a new stake in shares of Onsemi during the 4th quarter valued at about $46,000. Institutional investors own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ON shares. Mizuho decreased their price objective on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price objective on shares of Onsemi in a report on Tuesday, April 30th. Wells Fargo & Company reduced their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Finally, Evercore ISI began coverage on Onsemi in a research note on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.24.

Onsemi Stock Up 0.5 %

NASDAQ ON opened at $70.37 on Friday. The business’s 50-day moving average is $72.35 and its 200 day moving average is $74.65. The stock has a market capitalization of $30.28 billion, a PE ratio of 14.36, a PEG ratio of 3.18 and a beta of 1.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. Sell-side analysts forecast that Onsemi will post 3.86 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.