IHT Wealth Management LLC Decreases Holdings in Onsemi (NASDAQ:ON)

IHT Wealth Management LLC reduced its position in Onsemi (NASDAQ:ON) by 11.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,799 shares of the semiconductor company’s stock after selling 907 shares during the period. IHT Wealth Management LLC’s holdings in Onsemi were worth $429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi in the fourth quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Onsemi in the 4th quarter valued at approximately $43,000. Synergy Asset Management LLC acquired a new stake in Onsemi during the 4th quarter valued at $51,000. Plato Investment Management Ltd purchased a new position in Onsemi during the fourth quarter worth $51,000. Finally, Rakuten Securities Inc. raised its holdings in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 691 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Price Performance

ON stock opened at $39.63 on Friday. The stock has a 50-day simple moving average of $41.87 and a 200-day simple moving average of $55.96. The firm has a market cap of $16.73 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON) last issued 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 net margin of 22.21% and a return on equity of 20.10%. On average, equities analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Roth Capital set a $60.00 price objective on Onsemi in a research note on Friday, March 7th. Wells Fargo & Company lowered their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Truist Financial reduced their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Jefferies Financial Group lowered their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, B. Riley lowered Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.24.

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.