Edgestream Partners L.P. Sells 3,589 Shares of Onsemi (NASDAQ:ON)

Edgestream Partners L.P. lowered its holdings in shares of Onsemi (NASDAQ:ON) by 11.7% during the 4th quarter, HoldingsChannel reports. The fund owned 27,106 shares of the semiconductor company’s stock after selling 3,589 shares during the period. Edgestream Partners L.P.’s holdings in Onsemi were worth $1,709,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Nordea Investment Management AB grew its holdings in shares of Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in shares of Onsemi during the third quarter valued at approximately $1,270,000. Blue Trust Inc. grew its holdings in shares of Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,119 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at approximately $515,000. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ON shares. Truist Financial cut their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Loop Capital assumed coverage on shares of Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of Onsemi in a research report on Monday, March 3rd. Susquehanna lowered their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research report on Tuesday, February 11th. Finally, Benchmark lowered their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.85.

Onsemi Stock Down 2.7 %

Shares of ON stock opened at $44.16 on Tuesday. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a one year low of $43.33 and a one year high of $82.65. The company’s fifty day moving average price is $53.59 and its 200-day moving average price is $64.25. 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 (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 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%. Sell-side analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

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.