Onsemi (NASDAQ:ON) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Onsemi (NASDAQ:ON) by 35.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,005,784 shares of the semiconductor company’s stock after purchasing an additional 1,037,624 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Onsemi were worth $247,226,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Equitable Trust Co. bought a new stake in Onsemi in the fourth quarter valued at about $1,548,000. Savant Capital LLC grew its position in shares of Onsemi by 9.9% in the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 297 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi during the 4th quarter valued at approximately $41,000. Empowered Funds LLC raised its position in shares of Onsemi by 288.9% during the 4th quarter. Empowered Funds LLC now owns 160,770 shares of the semiconductor company’s stock valued at $10,137,000 after acquiring an additional 119,428 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Onsemi by 2.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,330 shares of the semiconductor company’s stock worth $2,858,000 after purchasing an additional 1,092 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Up 1.9 %

Shares of Onsemi stock opened at $47.93 on Wednesday. The business has a fifty day simple moving average of $59.62 and a 200-day simple moving average of $67.18. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, equities analysts forecast that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ON has been the topic of a number of research reports. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. UBS Group dropped their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. TD Cowen decreased their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Truist Financial lowered their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Susquehanna cut their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.36.

Onsemi Company 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.