Onsemi (NASDAQ:ON) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lessened its stake in shares of Onsemi (NASDAQ:ON) by 74.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,873 shares of the semiconductor company’s stock after selling 17,506 shares during the period. Ieq Capital LLC’s holdings in Onsemi were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridgewater Associates LP grew its holdings in shares of Onsemi by 8,367.5% during the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after buying an additional 1,109,778 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares in the last quarter. Van ECK Associates Corp lifted its stake in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after buying an additional 326,734 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Shares of Onsemi stock opened at $47.38 on Friday. The firm has a market capitalization of $19.97 billion, a P/E ratio of 13.05, a P/E/G ratio of 16.74 and a beta of 1.62. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16. The firm’s 50 day moving average is $56.17 and its two-hundred day moving average is $65.60.

Onsemi (NASDAQ:ON) last announced 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 22.21% and a return on equity of 20.10%. Research analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Ratings Changes

ON has been the subject of a number of research analyst reports. Susquehanna lowered their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Roth Mkm lowered their price target on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Citigroup cut their price objective on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group decreased their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. dropped their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.12.

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.