Onsemi (NASDAQ:ON) Shares Sold by Simplicity Solutions LLC

Simplicity Solutions LLC cut its holdings in shares of Onsemi (NASDAQ:ON) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,383 shares of the semiconductor company’s stock after selling 1,130 shares during the period. Simplicity Solutions LLC’s holdings in Onsemi were worth $617,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Perigon Wealth Management LLC increased its position in shares of Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after acquiring an additional 177 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Onsemi by 11.1% in the 4th quarter. Valeo Financial Advisors LLC now owns 3,253 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 326 shares during the period. Iridian Asset Management LLC CT increased its position in shares of Onsemi by 29.1% in the 4th quarter. Iridian Asset Management LLC CT now owns 48,106 shares of the semiconductor company’s stock valued at $4,018,000 after acquiring an additional 10,854 shares during the period. Vivid Wealth Management LLC acquired a new position in shares of Onsemi in the 4th quarter valued at $466,000. Finally, Sequoia Financial Advisors LLC increased its position in shares of Onsemi by 67.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 8,944 shares of the semiconductor company’s stock valued at $747,000 after acquiring an additional 3,604 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ON has been the topic of several research reports. Roth Mkm upped their target price on Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Evercore ISI started coverage on shares of Onsemi in a report on Tuesday. They issued an “outperform” rating and a $104.00 price target on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $82.00 price target on shares of Onsemi in a report on Thursday, March 14th. TD Cowen upped their price target on shares of Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.52.

Onsemi Trading Down 0.4 %

Shares of Onsemi stock opened at $64.47 on Thursday. The firm has a market capitalization of $27.71 billion, a PE ratio of 13.18, a P/E/G ratio of 6.27 and a beta of 1.80. Onsemi has a twelve month low of $61.47 and a twelve month high of $111.35. The firm’s 50-day moving average price is $75.43 and its 200 day moving average price is $76.75. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $1.32 EPS. On average, sell-side analysts predict that Onsemi will post 4.34 EPS for the current fiscal 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.