Treasurer of the State of North Carolina Acquires 7,432 Shares of Onsemi (NASDAQ:ON)

Treasurer of the State of North Carolina grew its stake in shares of Onsemi (NASDAQ:ON) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 265,566 shares of the semiconductor company’s stock after purchasing an additional 7,432 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Onsemi were worth $16,744,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its stake in shares of Onsemi by 19.7% in the third quarter. Integrated Wealth Concepts LLC now owns 4,548 shares of the semiconductor company’s stock worth $330,000 after buying an additional 750 shares during the period. Stifel Financial Corp increased its position in shares of Onsemi by 2.9% in the third quarter. Stifel Financial Corp now owns 112,847 shares of the semiconductor company’s stock valued at $8,194,000 after acquiring an additional 3,162 shares during the period. EP Wealth Advisors LLC increased its position in shares of Onsemi by 68.8% in the third quarter. EP Wealth Advisors LLC now owns 5,989 shares of the semiconductor company’s stock valued at $435,000 after acquiring an additional 2,440 shares during the period. M&T Bank Corp raised its stake in shares of Onsemi by 6.9% during the third quarter. M&T Bank Corp now owns 32,519 shares of the semiconductor company’s stock valued at $2,362,000 after acquiring an additional 2,110 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Onsemi by 19.6% during the third quarter. Coldstream Capital Management Inc. now owns 6,498 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 1,066 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of Onsemi stock opened at $35.08 on Friday. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08. The firm’s 50-day moving average is $44.79 and its 200 day moving average is $58.43. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 16.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last issued its earnings results 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%. Sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. B. Riley reduced their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Citigroup reduced their target price on Onsemi from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial dropped their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Susquehanna dropped their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.46.

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.