Commerce Bank Has $1.35 Million Position in Onsemi (NASDAQ:ON)

Commerce Bank decreased its holdings in shares of Onsemi (NASDAQ:ON) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,418 shares of the semiconductor company’s stock after selling 414 shares during the quarter. Commerce Bank’s holdings in Onsemi were worth $1,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ON. Norges Bank acquired a new position in Onsemi in the 4th quarter valued at $378,312,000. Allspring Global Investments Holdings LLC increased its stake in shares of Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after purchasing an additional 1,037,624 shares during the period. Vanguard Group Inc. boosted its stake in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Andra AP fonden increased its position in Onsemi by 2,388.4% in the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock worth $21,651,000 after buying an additional 329,600 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of Onsemi by 788.0% in the fourth quarter. APG Asset Management N.V. now owns 254,822 shares of the semiconductor company’s stock valued at $15,516,000 after acquiring an additional 226,125 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ON. Truist Financial dropped their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Susquehanna dropped their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group cut their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley lowered their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Mizuho reduced their price objective on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.52.

Onsemi Stock Performance

Onsemi stock opened at $34.74 on Tuesday. The stock has a 50-day simple moving average of $42.97 and a 200 day simple moving average of $56.78. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 16.74 and a beta of 1.48. 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 12-month low of $31.04 and a 12-month high of $80.08.

Onsemi (NASDAQ:ON) last announced its 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%. On average, research analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.