Onsemi (NASDAQ:ON) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its stake in Onsemi (NASDAQ:ON) by 88.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,068 shares of the semiconductor company’s stock after selling 82,724 shares during the period. Bessemer Group Inc.’s holdings in Onsemi were worth $698,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ON. Newbridge Financial Services Group Inc. acquired a new position in Onsemi in the 4th quarter valued at about $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Onsemi in the fourth quarter valued at approximately $43,000. Synergy Asset Management LLC purchased a new stake in Onsemi during the 4th quarter worth approximately $51,000. Plato Investment Management Ltd acquired a new stake in Onsemi during the 4th quarter worth approximately $51,000. Finally, Rakuten Securities Inc. boosted its position in Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 691 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Up 1.5 %

ON stock opened at $35.62 on Tuesday. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The company has a fifty day moving average price of $44.46 and a 200 day moving average price of $58.05. 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 has a 12 month low of $31.04 and a 12 month high of $80.08.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. KeyCorp cut their price objective on Onsemi from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Roth Capital set a $60.00 price target on Onsemi in a report on Friday, March 7th. The Goldman Sachs Group decreased their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Craig Hallum cut their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company decreased their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Two research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.