Siemens Fonds Invest GmbH Reduces Stock Position in Onsemi (NASDAQ:ON)

Siemens Fonds Invest GmbH cut its stake in Onsemi (NASDAQ:ON) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,858 shares of the semiconductor company’s stock after selling 1,359 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Onsemi were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its position in Onsemi by 10.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,129 shares of the semiconductor company’s stock valued at $260,000 after acquiring an additional 375 shares during the last quarter. Blue Trust Inc. increased its position in shares of Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after purchasing an additional 1,119 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Onsemi by 21.5% during the 4th quarter. Pacer Advisors Inc. now owns 75,692 shares of the semiconductor company’s stock valued at $4,772,000 after purchasing an additional 13,412 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Onsemi by 62.5% in the 4th quarter. Hantz Financial Services Inc. now owns 2,482 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 955 shares during the period. Finally, Ibex Wealth Advisors purchased a new position in shares of Onsemi in the fourth quarter worth approximately $316,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on ON shares. UBS Group decreased their price target on shares of Onsemi from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Benchmark reduced their price objective on Onsemi from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Craig Hallum lowered their target price on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley assumed coverage on Onsemi in a research report on Monday, May 12th. They issued an “equal weight” rating and a $39.00 price target for the company. Finally, Susquehanna decreased their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research note on Tuesday, February 11th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.12.

Onsemi Trading Up 0.2%

Onsemi stock opened at $42.94 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 price is $39.64 and its 200-day moving average price is $51.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock has a market cap of $17.94 billion, a P/E ratio of 11.83, a PEG ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $1.08 EPS. Onsemi’s revenue for the quarter was down 22.4% compared to the same quarter last year. On average, equities analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.