Summit Trail Advisors LLC Buys 240 Shares of Onsemi (NASDAQ:ON)

Summit Trail Advisors LLC lifted its position in Onsemi (NASDAQ:ON) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,545 shares of the semiconductor company’s stock after purchasing an additional 240 shares during the quarter. Summit Trail Advisors LLC’s holdings in Onsemi were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Onsemi by 26.0% during the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after buying an additional 1,200,723 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 55.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock worth $195,124,000 after purchasing an additional 828,944 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Onsemi by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock worth $397,108,000 after purchasing an additional 817,237 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Onsemi by 20.3% during the fourth quarter. Van ECK Associates Corp now owns 2,040,468 shares of the semiconductor company’s stock valued at $170,441,000 after purchasing an additional 344,970 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Onsemi in the 3rd quarter worth about $28,927,000. 97.70% of the stock is owned by institutional investors.

Onsemi Price Performance

ON stock opened at $70.67 on Thursday. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The stock 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 business has a fifty day moving average of $71.95 and a two-hundred day moving average of $74.30.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $1.19 earnings per share. Onsemi’s revenue was down 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Onsemi will post 3.86 earnings per share for the current year.

Analysts Set New Price Targets

ON has been the subject of several recent research reports. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Susquehanna cut their price objective on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Tuesday, April 30th. Truist Financial lowered their target price on Onsemi from $89.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Rosenblatt Securities cut their price target on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Finally, Roth Mkm upped their price objective on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

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.