Wright Investors Service Inc. Sells 11,683 Shares of Onsemi (NASDAQ:ON)

Wright Investors Service Inc. trimmed its stake in Onsemi (NASDAQ:ON) by 28.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,149 shares of the semiconductor company’s stock after selling 11,683 shares during the period. Wright Investors Service Inc.’s holdings in Onsemi were worth $2,435,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday. TD Cowen increased their target price on shares of Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Truist Financial decreased 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. Needham & Company LLC reissued a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.52.

Onsemi Stock Performance

Shares of NASDAQ:ON traded down $1.00 during midday trading on Thursday, reaching $63.47. The company’s stock had a trading volume of 3,152,865 shares, compared to its average volume of 7,212,139. The firm has a market capitalization of $27.28 billion, a PE ratio of 13.18, a P/E/G ratio of 6.27 and a beta of 1.80. Onsemi has a twelve month low of $61.47 and a twelve month high of $111.35. The stock has a fifty day moving average of $75.43 and a 200 day moving average of $76.75. 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 announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts expect that Onsemi will post 4.34 EPS 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.