Cerity Partners LLC Has $971,000 Stake in Onsemi (NASDAQ:ON)

Cerity Partners LLC cut its holdings in Onsemi (NASDAQ:ON) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,633 shares of the semiconductor company’s stock after selling 717 shares during the period. Cerity Partners LLC’s holdings in Onsemi were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ON. Iridian Asset Management LLC CT boosted its position in shares of Onsemi by 29.1% during the 4th quarter. Iridian Asset Management LLC CT now owns 48,106 shares of the semiconductor company’s stock worth $4,018,000 after purchasing an additional 10,854 shares in the last quarter. Vivid Wealth Management LLC bought a new position in Onsemi in the fourth quarter worth approximately $466,000. Sequoia Financial Advisors LLC grew its stake in Onsemi by 67.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 8,944 shares of the semiconductor company’s stock valued at $747,000 after acquiring an additional 3,604 shares during the period. Tobam bought a new stake in shares of Onsemi during the fourth quarter valued at approximately $79,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Onsemi during the fourth quarter worth approximately $32,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

NASDAQ ON opened at $60.65 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a market cap of $26.07 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The firm’s 50-day simple moving average is $74.26 and its two-hundred day simple moving average is $76.05.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the company posted $1.32 EPS. Onsemi’s revenue was down 4.1% compared to the same quarter last year. Research analysts predict that Onsemi will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ON shares. The Goldman Sachs Group decreased their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Roth Mkm raised their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. TD Cowen boosted their price objective on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. cut their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Finally, Evercore ISI started coverage on Onsemi in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.28.

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.