Sequoia Financial Advisors LLC Purchases 3,604 Shares of Onsemi (NASDAQ:ON)

Sequoia Financial Advisors LLC boosted its holdings in shares of Onsemi (NASDAQ:ON) by 67.5% in the fourth quarter, HoldingsChannel reports. The fund owned 8,944 shares of the semiconductor company’s stock after acquiring an additional 3,604 shares during the period. Sequoia Financial Advisors LLC’s holdings in Onsemi were worth $747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its holdings in Onsemi by 122,198.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after acquiring an additional 6,057,365 shares during the last quarter. Norges Bank purchased a new stake in shares of Onsemi during the fourth quarter valued at $308,064,000. Alliancebernstein L.P. lifted its stake in Onsemi by 114.5% during the 4th quarter. Alliancebernstein L.P. now owns 5,139,098 shares of the semiconductor company’s stock valued at $320,526,000 after acquiring an additional 2,743,216 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Onsemi by 231.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,681,038 shares of the semiconductor company’s stock valued at $303,024,000 after purchasing an additional 2,568,864 shares during the period. Finally, Vanguard Group Inc. raised its stake in Onsemi by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 41,662,400 shares of the semiconductor company’s stock valued at $2,608,483,000 after buying an additional 1,494,114 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 1.5 %

Shares of NASDAQ ON opened at $65.64 on Tuesday. The business’s 50 day moving average price is $75.91 and its 200-day moving average price is $77.04. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 6.45 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. Onsemi has a fifty-two week low of $61.47 and a fifty-two week high of $111.35.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The business 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 business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the company earned $1.32 earnings per share. On average, sell-side analysts expect that Onsemi will post 4.34 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on ON shares. 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. Mizuho cut their price objective on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. KeyCorp boosted their price target on Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Roth Mkm upped their price target on shares of Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $98.79.

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.