Onsemi (NASDAQ:ON) Shares Sold by Sycomore Asset Management

Sycomore Asset Management lessened its stake in Onsemi (NASDAQ:ON) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 30,938 shares of the semiconductor company’s stock after selling 3,662 shares during the period. Sycomore Asset Management’s holdings in Onsemi were worth $2,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ON. Ballentine Partners LLC increased its position in Onsemi by 1.7% during the 3rd quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company’s stock worth $731,000 after purchasing an additional 134 shares during the period. Private Trust Co. NA increased its position in Onsemi by 13.2% during the 3rd quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 149 shares during the period. Slow Capital Inc. increased its position in Onsemi by 0.4% during the 3rd quarter. Slow Capital Inc. now owns 40,154 shares of the semiconductor company’s stock worth $3,732,000 after purchasing an additional 157 shares during the period. Lindbrook Capital LLC increased its position in Onsemi by 10.8% during the 3rd quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 173 shares during the period. Finally, Perigon Wealth Management LLC increased its position in Onsemi by 7.7% during the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Up 6.2 %

Shares of Onsemi stock traded up $3.85 during trading hours on Wednesday, reaching $65.53. 12,808,920 shares of the company’s stock were exchanged, compared to its average volume of 7,384,299. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $73.93 and a 200-day moving average of $75.84.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. Sell-side analysts forecast that Onsemi will post 4.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the topic of several recent analyst reports. KeyCorp boosted their target price on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Wells Fargo & Company lowered their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI started coverage on Onsemi in a report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price target on the stock. The Goldman Sachs Group lowered their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Finally, Morgan Stanley lowered their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.28.

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.