Sigma Planning Corp Cuts Stock Holdings in Onsemi (NASDAQ:ON)

Sigma Planning Corp decreased its stake in shares of Onsemi (NASDAQ:ON) by 68.7% during the fourth quarter, Holdings Channel reports. The firm owned 2,523 shares of the semiconductor company’s stock after selling 5,535 shares during the quarter. Sigma Planning Corp’s holdings in Onsemi were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Exchange Traded Concepts LLC lifted its position in Onsemi by 199.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock valued at $378,000 after purchasing an additional 2,707 shares during the period. Private Trust Co. NA lifted its position in Onsemi by 13.2% during the third quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 149 shares during the period. Valeo Financial Advisors LLC lifted its position in Onsemi by 16.3% during the third quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 410 shares during the period. Linden Thomas Advisory Services LLC bought a new position in Onsemi in the third quarter worth approximately $835,000. Finally, Commonwealth Equity Services LLC raised its position in Onsemi by 9.5% in the third quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock worth $5,082,000 after acquiring an additional 4,741 shares during the period. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

ON has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company decreased their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Finally, BNP Paribas reiterated an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.28.

Onsemi Stock Performance

ON opened at $70.82 on Tuesday. The stock has a market capitalization of $30.44 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 6.71 and a beta of 1.80. The company has a fifty day moving average of $73.11 and a 200 day moving average of $75.28. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. 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 (NASDAQ:ON) last posted its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the company posted $1.19 earnings per share. As a group, sell-side analysts forecast that Onsemi will post 4.26 earnings per share 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.