Fulton Bank N.A. Has $293,000 Stock Holdings in Onsemi (NASDAQ:ON)

Fulton Bank N.A. lifted its stake in shares of Onsemi (NASDAQ:ON) by 61.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,640 shares of the semiconductor company’s stock after buying an additional 1,758 shares during the quarter. Fulton Bank N.A.’s holdings in Onsemi were worth $293,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its position in Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after acquiring an additional 82,614 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Onsemi during the third quarter worth about $389,000. World Investment Advisors LLC bought a new position in Onsemi during the third quarter worth about $1,087,000. Westside Investment Management Inc. increased its position in Onsemi by 67.9% during the third quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 380 shares during the period. Finally, Coldstream Capital Management Inc. increased its position in Onsemi by 19.6% during the third quarter. Coldstream Capital Management Inc. now owns 6,498 shares of the semiconductor company’s stock worth $468,000 after acquiring an additional 1,066 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ON. BNP Paribas lowered their price target on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Robert W. Baird raised their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Benchmark reissued a “buy” rating and issued a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. TD Cowen decreased their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $87.00 target price on shares of Onsemi in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.43.

Onsemi Stock Down 7.5 %

Shares of NASDAQ ON opened at $53.94 on Friday. The company has a market capitalization of $22.97 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. Onsemi has a 52-week low of $53.60 and a 52-week high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company’s 50 day moving average price is $67.20 and its 200-day moving average price is $70.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.39 EPS. Equities analysts forecast that Onsemi will post 4 earnings per share for the current year.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction 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 $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

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.