Metis Global Partners LLC Reduces Stock Holdings in Onsemi (NASDAQ:ON)

Metis Global Partners LLC cut its holdings in Onsemi (NASDAQ:ON) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,307 shares of the semiconductor company’s stock after selling 735 shares during the period. Metis Global Partners LLC’s holdings in Onsemi were worth $1,446,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in Onsemi by 9.5% during the third quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock worth $5,082,000 after buying an additional 4,741 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Onsemi by 11.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,546 shares of the semiconductor company’s stock valued at $516,000 after purchasing an additional 576 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Onsemi by 5.3% during the 3rd quarter. Brown Advisory Inc. now owns 3,950 shares of the semiconductor company’s stock worth $367,000 after purchasing an additional 200 shares during the last quarter. Advisor Partners II LLC grew its holdings in shares of Onsemi by 36.5% during the third quarter. Advisor Partners II LLC now owns 16,092 shares of the semiconductor company’s stock worth $1,496,000 after buying an additional 4,301 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Onsemi by 1.4% in the third quarter. Park Avenue Securities LLC now owns 18,976 shares of the semiconductor company’s stock valued at $1,764,000 after buying an additional 258 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ON shares. The Goldman Sachs Group decreased their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Stifel Nicolaus dropped their price target on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. KeyCorp decreased their price target on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Roth Mkm upped their price objective on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Wells Fargo & Company cut their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Trading Down 0.2 %

Shares of NASDAQ ON opened at $70.67 on Thursday. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The company has a market cap of $30.40 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 3.18 and a beta of 1.78. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $71.95 and its 200 day simple moving average is $74.30.

Onsemi (NASDAQ:ON) last released 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. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company earned $1.19 EPS. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts expect that Onsemi will post 3.86 EPS for the current year.

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.