Tocqueville Asset Management L.P. Sells 52,832 Shares of Onsemi (NASDAQ:ON)

Tocqueville Asset Management L.P. lessened its stake in shares of Onsemi (NASDAQ:ON) by 16.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 272,827 shares of the semiconductor company’s stock after selling 52,832 shares during the period. Tocqueville Asset Management L.P.’s holdings in Onsemi were worth $17,202,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ON. Geode Capital Management LLC grew its holdings in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Onsemi by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock worth $156,884,000 after purchasing an additional 83,665 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Onsemi by 19.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after purchasing an additional 326,734 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Onsemi by 0.9% during the third quarter. Swiss National Bank now owns 1,277,000 shares of the semiconductor company’s stock valued at $92,723,000 after purchasing an additional 11,700 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Onsemi Price Performance

NASDAQ:ON opened at $44.05 on Tuesday. The business’s 50-day simple moving average is $51.18 and its two-hundred day simple moving average is $62.89. Onsemi has a 52 week low of $41.59 and a 52 week high of $80.08. The stock has a market cap of $18.56 billion, a PE ratio of 12.14, a P/E/G ratio of 16.74 and a beta of 1.59. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. B. Riley decreased their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Roth Mkm lowered their price objective on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Craig Hallum cut their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group lowered their price target on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Benchmark cut their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.85.

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.