Stratos Wealth Partners LTD. Sells 1,055 Shares of Onsemi (NASDAQ:ON)

Stratos Wealth Partners LTD. trimmed its stake in Onsemi (NASDAQ:ON) by 19.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,491 shares of the semiconductor company’s stock after selling 1,055 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Onsemi were worth $375,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Onsemi by 3.7% in the first quarter. Vanguard Group Inc. now owns 41,662,400 shares of the semiconductor company’s stock worth $2,608,483,000 after purchasing an additional 1,494,114 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Onsemi by 1.5% in the first quarter. Geode Capital Management LLC now owns 9,271,748 shares of the semiconductor company’s stock worth $761,615,000 after purchasing an additional 136,908 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Onsemi by 122,198.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after purchasing an additional 6,057,365 shares during the last quarter. Invesco Ltd. raised its stake in shares of Onsemi by 26.0% in the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after purchasing an additional 1,200,723 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Onsemi by 114.5% in the fourth quarter. Alliancebernstein L.P. now owns 5,139,098 shares of the semiconductor company’s stock worth $320,526,000 after purchasing an additional 2,743,216 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, February 6th. TD Cowen upped their price objective on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Needham & Company LLC reiterated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research report on Tuesday, February 6th. Truist Financial reduced their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.79.

Onsemi Stock Performance

NASDAQ ON opened at $66.64 on Monday. The firm has a market cap of $28.65 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 6.45 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $76.15 and a 200-day moving average price of $77.24. Onsemi has a twelve month low of $61.47 and a twelve month high of $111.35.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. As a group, equities research 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.