State of Alaska Department of Revenue Lowers Holdings in Onsemi (NASDAQ:ON)

State of Alaska Department of Revenue trimmed its holdings in Onsemi (NASDAQ:ONFree Report) by 5.7% in the 4th quarter, HoldingsChannel reports. The fund owned 117,779 shares of the semiconductor company’s stock after selling 7,180 shares during the quarter. State of Alaska Department of Revenue’s holdings in Onsemi were worth $9,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Provence Wealth Management Group purchased a new position in shares of Onsemi during the third quarter worth $25,000. FinTrust Capital Advisors LLC purchased a new position in shares of Onsemi during the fourth quarter worth $25,000. Ancora Advisors LLC purchased a new position in shares of Onsemi during the first quarter worth $33,000. Hanseatic Management Services Inc. acquired a new stake in shares of Onsemi in the third quarter valued at $38,000. Finally, Headinvest LLC acquired a new stake in shares of Onsemi in the third quarter valued at $44,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $82.00 price objective on shares of Onsemi in a research note on Thursday, March 14th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. TD Cowen increased their price objective on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. reduced their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, KeyCorp raised their price target on Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.79.

Check Out Our Latest Research Report on ON

Onsemi Stock Performance

NASDAQ ON opened at $73.55 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a 52-week low of $61.47 and a 52-week high of $111.35. The business’s 50-day moving average price is $76.74 and its 200 day moving average price is $79.00. The firm has a market cap of $31.68 billion, a P/E ratio of 15.04, a P/E/G ratio of 7.12 and a beta of 1.81.

Onsemi (NASDAQ:ONGet Free Report) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the company posted $1.32 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Onsemi will post 4.34 earnings per share for the current year.

About Onsemi

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Onsemi (NASDAQ:ON)

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