Shelton Capital Management Lowers Holdings in Onsemi (NASDAQ:ON)

Shelton Capital Management reduced its stake in shares of Onsemi (NASDAQ:ON) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 56,576 shares of the semiconductor company’s stock after selling 963 shares during the period. Shelton Capital Management’s holdings in Onsemi were worth $3,567,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ON. HighTower Advisors LLC boosted its stake in Onsemi by 4.7% during the third quarter. HighTower Advisors LLC now owns 49,683 shares of the semiconductor company’s stock valued at $3,601,000 after buying an additional 2,229 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Onsemi by 19.7% in the third quarter. Integrated Wealth Concepts LLC now owns 4,548 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 750 shares in the last quarter. Stifel Financial Corp increased its position in Onsemi by 2.9% in the third quarter. Stifel Financial Corp now owns 112,847 shares of the semiconductor company’s stock worth $8,194,000 after purchasing an additional 3,162 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Onsemi by 68.8% during the third quarter. EP Wealth Advisors LLC now owns 5,989 shares of the semiconductor company’s stock valued at $435,000 after purchasing an additional 2,440 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Onsemi by 94.2% during the third quarter. National Bank of Canada FI now owns 306,437 shares of the semiconductor company’s stock valued at $22,250,000 after purchasing an additional 148,620 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ON shares. Benchmark decreased their target price on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Mizuho lowered their price objective on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. KeyCorp cut their target price on Onsemi from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday. B. Riley lowered their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $49.00 price objective on shares of Onsemi in a research report on Thursday, February 27th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.92.

Onsemi Trading Down 8.9 %

NASDAQ ON opened at $31.95 on Wednesday. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a 50 day moving average price of $45.95 and a 200 day moving average price of $59.27. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market cap of $13.48 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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, sell-side analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

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.