Moran Wealth Management LLC Purchases 10,682 Shares of Onsemi (NASDAQ:ON)

Moran Wealth Management LLC raised its position in Onsemi (NASDAQ:ON) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,797 shares of the semiconductor company’s stock after acquiring an additional 10,682 shares during the period. Moran Wealth Management LLC’s holdings in Onsemi were worth $2,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB increased its holdings in shares of Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after acquiring an additional 82,614 shares in the last quarter. Natixis Advisors LLC increased its stake in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares in the last quarter. Cinctive Capital Management LP purchased a new position in shares of Onsemi in the third quarter worth $1,270,000. Blue Trust Inc. lifted its stake in shares of Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after buying an additional 1,119 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at $515,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

NASDAQ:ON opened at $42.86 on Wednesday. The company has a fifty day moving average of $52.80 and a two-hundred day moving average of $63.80. Onsemi has a fifty-two week low of $41.85 and a fifty-two week high of $82.65. The stock has a market capitalization of $18.06 billion, a PE ratio of 11.81, a P/E/G ratio of 16.74 and a beta of 1.59. 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 (NASDAQ:ON) last issued 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%. As a group, research analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Susquehanna reduced their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. Roth Capital set a $60.00 target price on Onsemi in a report on Friday. The Goldman Sachs Group cut their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Citigroup decreased their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.85.

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.