Desjardins Global Asset Management Inc. Trims Position in Onsemi (NASDAQ:ON)

Desjardins Global Asset Management Inc. cut its holdings in shares of Onsemi (NASDAQ:ON) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,723 shares of the semiconductor company’s stock after selling 421 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Onsemi were worth $144,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ON. Prosperitas Financial LLC grew its stake in shares of Onsemi by 25.7% during the 4th quarter. Prosperitas Financial LLC now owns 16,881 shares of the semiconductor company’s stock worth $1,410,000 after purchasing an additional 3,452 shares during the period. Sentry Investment Management LLC grew its stake in shares of Onsemi by 234.7% during the 4th quarter. Sentry Investment Management LLC now owns 8,395 shares of the semiconductor company’s stock worth $701,000 after purchasing an additional 5,887 shares during the period. S. R. Schill & Associates grew its stake in shares of Onsemi by 17.6% during the 4th quarter. S. R. Schill & Associates now owns 4,580 shares of the semiconductor company’s stock worth $383,000 after purchasing an additional 687 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Onsemi by 4.0% during the 4th quarter. Vontobel Holding Ltd. now owns 168,553 shares of the semiconductor company’s stock worth $14,079,000 after purchasing an additional 6,469 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Onsemi during the 4th quarter worth approximately $5,029,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ON has been the topic of a number of analyst reports. BNP Paribas reaffirmed an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $92.00 price target on shares of Onsemi in a research note on Tuesday, February 6th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus dropped their price target on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.52.

Onsemi Stock Down 3.5 %

NASDAQ ON opened at $60.71 on Friday. Onsemi has a 52 week low of $60.26 and a 52 week high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $74.67 and its 200-day simple moving average is $76.43. The firm has a market cap of $26.10 billion, a PE ratio of 12.42, a P/E/G ratio of 6.13 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 EPS for the quarter, topping the consensus estimate of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm earned $1.32 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Onsemi will post 4.31 earnings per share for the current year.

Onsemi Profile

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.