Truist Financial Corp Sells 16,134 Shares of Onsemi (NASDAQ:ON)

Truist Financial Corp decreased its position in Onsemi (NASDAQ:ON) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,070 shares of the semiconductor company’s stock after selling 16,134 shares during the period. Truist Financial Corp’s holdings in Onsemi were worth $11,282,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in shares of Onsemi by 10.8% in the 3rd quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 173 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Onsemi by 7.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after purchasing an additional 177 shares during the last quarter. Quent Capital LLC grew its position in Onsemi by 25.3% in the 4th quarter. Quent Capital LLC now owns 980 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 198 shares during the period. Wealthspire Advisors LLC raised its stake in Onsemi by 6.2% during the 3rd quarter. Wealthspire Advisors LLC now owns 3,408 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 199 shares during the last quarter. Finally, Legal Advantage Investments Inc. lifted its holdings in shares of Onsemi by 5.0% during the 3rd quarter. Legal Advantage Investments Inc. now owns 4,200 shares of the semiconductor company’s stock valued at $390,000 after buying an additional 200 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ON shares. Benchmark lowered their price objective on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday. The Goldman Sachs Group dropped their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Mizuho reduced their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $90.24.

Onsemi Price Performance

Onsemi stock opened at $69.01 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The firm’s fifty day moving average is $72.80 and its 200 day moving average is $74.99. The company has a market cap of $29.69 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 8.39 and a beta of 1.78.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the business posted $1.19 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. Sell-side analysts forecast that Onsemi will post 4.12 EPS for the current fiscal year.

About Onsemi

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.