Perigon Wealth Management LLC Has $206,000 Holdings in Onsemi (NASDAQ:ON)

Perigon Wealth Management LLC raised its stake in shares of Onsemi (NASDAQ:ON) by 7.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,463 shares of the semiconductor company’s stock after purchasing an additional 177 shares during the period. Perigon Wealth Management LLC’s holdings in Onsemi were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ON. International Assets Investment Management LLC boosted its holdings in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after purchasing an additional 82,301 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after acquiring an additional 4,900 shares during the period. Synergy Asset Management LLC boosted its position in Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock worth $12,918,000 after purchasing an additional 73,909 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Onsemi in the 4th quarter valued at $1,137,000. Finally, Chicago Capital LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at $3,860,000. 97.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ON has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on shares of Onsemi in a report on Tuesday. They issued an “outperform” rating and a $104.00 price target on the stock. Truist Financial reduced their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. The Goldman Sachs Group dropped their price objective on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.52.

Onsemi Price Performance

Shares of NASDAQ ON opened at $64.47 on Thursday. The stock’s 50-day simple moving average is $75.43 and its two-hundred day simple moving average is $76.75. Onsemi has a twelve month low of $61.47 and a twelve month high of $111.35. The firm has a market capitalization of $27.71 billion, a P/E ratio of 13.18, a P/E/G ratio of 6.27 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share. As a group, equities analysts anticipate that Onsemi will post 4.34 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.