Perigon Wealth Management LLC Acquires 177 Shares of Onsemi (NASDAQ:ON)

Perigon Wealth Management LLC grew its holdings in Onsemi (NASDAQ:ON) by 7.7% in the fourth quarter, Holdings Channel reports. The firm owned 2,463 shares of the semiconductor company’s stock after buying an additional 177 shares during the quarter. Perigon Wealth Management LLC’s holdings in Onsemi were worth $206,000 as of its most recent SEC filing.

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

Onsemi Stock Down 0.4 %

ON opened at $64.47 on Thursday. The company has a market capitalization of $27.71 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 6.27 and a beta of 1.80. The firm has a 50-day simple moving average of $75.43 and a two-hundred day simple moving average of $76.75. 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.

Onsemi (NASDAQ:ON) last released its quarterly 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. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the business posted $1.32 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts forecast that Onsemi will post 4.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ON. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. KeyCorp boosted their target price on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Truist Financial decreased their price target on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research report on Tuesday, February 6th. Finally, Roth Mkm upped their price objective on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.52.

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.