Onsemi (NASDAQ:ON) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its position in Onsemi (NASDAQ:ON) by 14.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,416 shares of the semiconductor company’s stock after selling 6,205 shares during the period. Orion Portfolio Solutions LLC’s holdings in Onsemi were worth $2,233,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after buying an additional 82,614 shares during the last quarter. Cinctive Capital Management LP bought a new stake in shares of Onsemi in the 3rd quarter worth about $1,270,000. Blue Trust Inc. raised its stake in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after purchasing an additional 1,119 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Onsemi during the fourth quarter worth about $515,000. Finally, Deltec Asset Management LLC acquired a new position in Onsemi in the fourth quarter worth about $6,343,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

NASDAQ ON opened at $40.20 on Wednesday. Onsemi has a 12 month low of $39.10 and a 12 month high of $80.08. The firm has a market capitalization of $16.94 billion, a PE ratio of 11.07, a P/E/G ratio of 16.74 and a beta of 1.59. The company’s 50 day simple moving average is $48.33 and its 200 day simple moving average is $60.72. 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 issued its quarterly 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, equities research analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the topic of a number of research analyst reports. B. Riley reduced their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Roth Mkm decreased their price objective on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Susquehanna dropped their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Jefferies Financial Group reduced their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Benchmark lowered their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average price target of $66.50.

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.