Onsemi (NASDAQ:ON) Stock Position Trimmed by Securian Asset Management Inc.

Securian Asset Management Inc. cut its position in Onsemi (NASDAQ:ON) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,884 shares of the semiconductor company’s stock after selling 807 shares during the quarter. Securian Asset Management Inc.’s holdings in Onsemi were worth $1,443,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Atria Investments Inc increased its stake in Onsemi by 9.0% during the 3rd quarter. Atria Investments Inc now owns 15,316 shares of the semiconductor company’s stock valued at $1,112,000 after buying an additional 1,268 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Onsemi in the 3rd quarter worth about $33,000. Apollon Wealth Management LLC boosted its holdings in shares of Onsemi by 75.1% during the third quarter. Apollon Wealth Management LLC now owns 10,652 shares of the semiconductor company’s stock worth $773,000 after purchasing an additional 4,569 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Onsemi by 2.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,061,823 shares of the semiconductor company’s stock valued at $77,099,000 after buying an additional 20,405 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in Onsemi by 6.3% in the third quarter. Oppenheimer & Co. Inc. now owns 29,674 shares of the semiconductor company’s stock valued at $2,155,000 after purchasing an additional 1,755 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Performance

Shares of NASDAQ:ON opened at $43.19 on Friday. The business’s fifty day moving average price is $52.01 and its two-hundred day moving average price is $63.51. Onsemi has a fifty-two week low of $41.59 and a fifty-two week high of $80.08. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. KeyCorp reduced their price target on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group reduced their target price on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Mizuho reduced their target price on Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Roth Mkm cut their price target on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, B. Riley cut their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average price target of $66.85.

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.