Wright Investors Service Inc. Has $2.44 Million Stock Holdings in Onsemi (NASDAQ:ON)

Wright Investors Service Inc. cut its position in Onsemi (NASDAQ:ON) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,149 shares of the semiconductor company’s stock after selling 11,683 shares during the period. Wright Investors Service Inc.’s holdings in Onsemi were worth $2,435,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dana Investment Advisors Inc. boosted its stake in Onsemi by 0.9% during the 2nd quarter. Dana Investment Advisors Inc. now owns 14,460 shares of the semiconductor company’s stock valued at $1,368,000 after purchasing an additional 129 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Onsemi by 3.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 4,163 shares of the semiconductor company’s stock worth $387,000 after buying an additional 132 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Onsemi by 1.7% during the 3rd quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company’s stock worth $731,000 after buying an additional 134 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Onsemi by 3.2% during the 2nd quarter. Raymond James Trust N.A. now owns 4,723 shares of the semiconductor company’s stock worth $447,000 after buying an additional 145 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Onsemi by 13.2% during the 3rd quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock worth $119,000 after buying an additional 149 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Trading Down 1.6 %

NASDAQ ON traded down $1.00 during trading on Thursday, hitting $63.47. 3,152,865 shares of the company’s stock traded hands, compared to its average volume of 7,212,139. The stock has a fifty day moving average of $75.43 and a two-hundred day moving average of $76.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. Onsemi has a 12-month low of $61.47 and a 12-month high of $111.35. The firm has a market cap of $27.28 billion, a P/E ratio of 13.18, a PEG ratio of 6.27 and a beta of 1.80.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business posted $1.32 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Onsemi will post 4.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ON. The Goldman Sachs Group dropped their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Susquehanna reaffirmed a “positive” rating and issued a $90.00 price target on shares of Onsemi in a report on Monday, April 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Finally, Evercore ISI started coverage on shares of Onsemi in a report on Tuesday. They issued an “outperform” rating and a $104.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.