Distillate Capital Partners LLC Decreases Stock Position in Onsemi (NASDAQ:ON)

Distillate Capital Partners LLC lowered its position in Onsemi (NASDAQ:ON) by 46.9% during the 4th quarter, HoldingsChannel reports. The fund owned 266,961 shares of the semiconductor company’s stock after selling 236,029 shares during the period. Distillate Capital Partners LLC’s holdings in Onsemi were worth $16,832,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ON. Norges Bank bought a new stake in Onsemi during the 4th quarter valued at about $378,312,000. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 35.0% during the fourth 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. Vanguard Group Inc. raised its stake in shares of Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after acquiring an additional 344,354 shares in the last quarter. Andra AP fonden boosted its holdings in shares of Onsemi by 2,388.4% in the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock valued at $21,651,000 after purchasing an additional 329,600 shares during the period. Finally, APG Asset Management N.V. increased its holdings in Onsemi by 788.0% during the 4th quarter. APG Asset Management N.V. now owns 254,822 shares of the semiconductor company’s stock worth $15,516,000 after purchasing an additional 226,125 shares during the period. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ON. Roth Capital set a $60.00 price target on Onsemi in a research note on Friday, March 7th. Susquehanna lowered their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. Rosenblatt Securities restated a “neutral” rating and set a $49.00 price target on shares of Onsemi in a research note on Thursday, February 27th. Citigroup decreased their price target on shares of Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday. Finally, UBS Group cut their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.46.

Onsemi Stock Up 0.6 %

ON opened at $35.08 on Friday. The company has a fifty day moving average of $44.79 and a two-hundred day moving average of $58.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. Onsemi has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last released 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 return on equity of 20.10% and a net margin of 22.21%. On average, research analysts expect that Onsemi will post 2.6 earnings per share for the current 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.