Shelton Capital Management Reduces Stock Position in Onsemi (NASDAQ:ON)

Shelton Capital Management lessened its holdings in shares of Onsemi (NASDAQ:ON) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,576 shares of the semiconductor company’s stock after selling 963 shares during the period. Shelton Capital Management’s holdings in Onsemi were worth $3,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC lifted its holdings in Onsemi by 12.8% in the fourth quarter. Cerity Partners LLC now owns 34,356 shares of the semiconductor company’s stock worth $2,306,000 after buying an additional 3,890 shares during the period. Polymer Capital Management HK LTD purchased a new position in shares of Onsemi in the 4th quarter valued at approximately $2,144,000. Federated Hermes Inc. boosted its position in shares of Onsemi by 2.8% during the fourth quarter. Federated Hermes Inc. now owns 110,604 shares of the semiconductor company’s stock valued at $6,974,000 after purchasing an additional 3,014 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Onsemi in the fourth quarter worth $345,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Onsemi during the fourth quarter valued at $1,190,000. Institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ON shares. KeyCorp lowered their price target on shares of Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup dropped their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Roth Mkm lowered their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley cut their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Susquehanna lowered their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

Onsemi Trading Down 8.9 %

Shares of Onsemi stock opened at $31.95 on Wednesday. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The company’s fifty day simple moving average is $45.95 and its 200-day simple moving average is $59.27. 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 capitalization of $13.48 billion, a PE ratio of 8.80, a P/E/G ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. As a group, equities analysts anticipate that Onsemi will post 2.6 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.