Onsemi (NASDAQ:ON) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in shares of Onsemi (NASDAQ:ON) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,133 shares of the semiconductor company’s stock after selling 1,360 shares during the period. Park Avenue Securities LLC’s holdings in Onsemi were worth $331,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Onsemi by 15.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company’s stock worth $1,070,000 after buying an additional 2,209 shares during the period. TCW Group Inc. increased its position in Onsemi by 0.8% during the fourth quarter. TCW Group Inc. now owns 290,396 shares of the semiconductor company’s stock worth $18,309,000 after buying an additional 2,354 shares during the period. Blair William & Co. IL increased its holdings in shares of Onsemi by 52.7% in the fourth quarter. Blair William & Co. IL now owns 4,239 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 1,463 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Onsemi by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after purchasing an additional 83,665 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Onsemi in the fourth quarter valued at approximately $998,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. B. Riley lowered Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Thursday, April 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $42.00 target price on shares of Onsemi in a report on Tuesday, May 6th. Robert W. Baird dropped their target price on Onsemi from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Loop Capital dropped their target price on Onsemi from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, KGI Securities assumed coverage on Onsemi in a report on Friday, May 23rd. They issued a “neutral” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.12.

Onsemi Price Performance

Onsemi stock opened at $51.02 on Monday. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm’s 50-day simple moving average is $41.86 and its 200 day simple moving average is $49.63. The firm has a market capitalization of $21.32 billion, a PE ratio of 14.06, a P/E/G ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. On average, equities research analysts predict that Onsemi will post 2.6 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.