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

Simplicity Solutions LLC trimmed its position in shares of Onsemi (NASDAQ:ON) by 13.3% during the fourth quarter, HoldingsChannel reports. The fund owned 7,383 shares of the semiconductor company’s stock after selling 1,130 shares during the quarter. Simplicity Solutions LLC’s holdings in Onsemi were worth $617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ON. Provence Wealth Management Group purchased a new stake in Onsemi during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi during the fourth quarter worth about $32,000. FinTrust Capital Advisors LLC purchased a new stake in Onsemi during the fourth quarter worth about $25,000. Ancora Advisors LLC purchased a new stake in Onsemi during the first quarter worth about $33,000. Finally, Hanseatic Management Services Inc. purchased a new stake in Onsemi during the third quarter worth about $38,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

NASDAQ:ON opened at $64.47 on Thursday. 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 company has a market cap of $27.71 billion, a P/E ratio of 13.18, a P/E/G ratio of 6.27 and a beta of 1.80. Onsemi has a fifty-two week low of $61.47 and a fifty-two week high of $111.35. The firm’s 50 day moving average is $75.43 and its two-hundred day moving average is $76.75.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results 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 company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. Analysts expect that Onsemi will post 4.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ON. TD Cowen boosted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Mizuho lowered their price target on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Roth Mkm increased their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price target on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.52.

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.