Lifeworks Advisors LLC Sells 1,931 Shares of Onsemi (NASDAQ:ON)

Lifeworks Advisors LLC decreased its position in Onsemi (NASDAQ:ON) by 31.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,162 shares of the semiconductor company’s stock after selling 1,931 shares during the quarter. Lifeworks Advisors LLC’s holdings in Onsemi were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ON. Capital Performance Advisors LLP bought a new stake in shares of Onsemi in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi in the third quarter worth $33,000. Safe Harbor Fiduciary LLC bought a new position in shares of Onsemi during the third quarter valued at $43,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi in the 4th quarter worth about $41,000. Finally, Synergy Asset Management LLC bought a new position in Onsemi in the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of Onsemi stock opened at $45.40 on Friday. The company has a market capitalization of $19.13 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 16.74 and a beta of 1.59. The stock’s 50-day simple moving average is $53.59 and its 200-day simple moving average is $64.33. 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 $43.33 and a 52 week high of $82.65.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data 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 return on equity of 20.10% and a net margin of 22.21%. As a group, analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ON has been the subject of a number of analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $49.00 price objective on shares of Onsemi in a research note on Thursday, February 27th. Susquehanna decreased their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company reduced their target price on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Truist Financial lowered their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, KeyCorp reduced their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.12.

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.