Carmel Capital Partners LLC Grows Stock Position in Onsemi (NASDAQ:ON)

Carmel Capital Partners LLC grew its holdings in Onsemi (NASDAQ:ON) by 13.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,798 shares of the semiconductor company’s stock after acquiring an additional 3,109 shares during the quarter. Onsemi makes up about 0.7% of Carmel Capital Partners LLC’s holdings, making the stock its 29th biggest holding. Carmel Capital Partners LLC’s holdings in Onsemi were worth $1,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB increased its stake in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the period. Natixis Advisors LLC grew its position in shares of Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after buying an additional 18,450 shares in the last quarter. Cinctive Capital Management LP bought a new position in shares of Onsemi during the 3rd quarter worth $1,270,000. Blue Trust Inc. grew its position in shares of Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after buying an additional 1,119 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in shares of Onsemi during the 4th quarter worth $515,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 4.5 %

Shares of NASDAQ:ON opened at $46.49 on Thursday. Onsemi has a 52-week low of $43.94 and a 52-week high of $85.16. The stock has a market cap of $19.59 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 16.74 and a beta of 1.59. 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 business has a 50-day moving average price of $54.89 and a 200-day moving average price of $64.91.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Equities analysts predict that Onsemi will post 2.6 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ON shares. KeyCorp dropped their price target on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley dropped their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $57.00 price target on shares of Onsemi in a research report on Monday. Wells Fargo & Company dropped their price target on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, UBS Group dropped their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.12.

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.