Onsemi (NASDAQ:ON) Shares Sold by Summit X LLC

Summit X LLC decreased its holdings in shares of Onsemi (NASDAQ:ON) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 6,541 shares of the semiconductor company’s stock after selling 339 shares during the quarter. Summit X LLC’s holdings in Onsemi were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Onsemi in the third quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in Onsemi in the third quarter worth about $33,000. Newbridge Financial Services Group Inc. bought a new position in Onsemi in the fourth quarter worth about $41,000. Safe Harbor Fiduciary LLC bought a new position in Onsemi in the third quarter worth about $43,000. Finally, Synergy Asset Management LLC bought a new position in Onsemi in the fourth quarter worth about $51,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Down 2.9 %

Onsemi stock opened at $42.86 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a 1 year low of $41.85 and a 1 year high of $82.65. The firm’s 50 day moving average price is $52.80 and its two-hundred day moving average price is $63.80.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate 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 predict that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Ratings Changes

ON has been the topic of a number of recent research reports. Roth Mkm cut their target price on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Roth Capital set a $60.00 price target on Onsemi in a report on Friday. B. Riley cut their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $49.00 price target on shares of Onsemi in a report on Thursday, February 27th. Finally, Stifel Nicolaus cut 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.85.

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.