Onsemi (NASDAQ:ON) Position Boosted by MONECO Advisors LLC

MONECO Advisors LLC raised its holdings in shares of Onsemi (NASDAQ:ON) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,154 shares of the semiconductor company’s stock after acquiring an additional 594 shares during the period. MONECO Advisors LLC’s holdings in Onsemi were worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in shares of Onsemi by 26.0% in the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after acquiring an additional 1,200,723 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Onsemi by 55.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock worth $195,124,000 after purchasing an additional 828,944 shares during the period. Ameriprise Financial Inc. boosted its stake in Onsemi by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after purchasing an additional 817,237 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Onsemi by 20.3% during the 4th quarter. Van ECK Associates Corp now owns 2,040,468 shares of the semiconductor company’s stock valued at $170,441,000 after purchasing an additional 344,970 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Onsemi in the third quarter valued at $28,927,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of ON opened at $68.81 on Wednesday. The company has a market capitalization of $29.58 billion, a PE ratio of 14.32, a PEG ratio of 7.03 and a beta of 1.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87. The company’s 50 day moving average price is $72.80 and its 200 day moving average price is $74.99. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company posted $1.19 EPS. Onsemi’s revenue was down 4.9% on a year-over-year basis. Research analysts expect that Onsemi will post 4.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Susquehanna lowered their target price on Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Tuesday. Evercore ISI assumed coverage on shares of Onsemi in a research note on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price for the company. B. Riley restated a “buy” rating and issued a $103.00 price target (down previously from $115.00) on shares of Onsemi in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Benchmark reduced their price objective on Onsemi from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.24.

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.