Aristeia Capital L.L.C. Sells 38,333 Shares of Onsemi (NASDAQ:ON)

Aristeia Capital L.L.C. reduced its position in Onsemi (NASDAQ:ON) by 60.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,967 shares of the semiconductor company’s stock after selling 38,333 shares during the quarter. Aristeia Capital L.L.C.’s holdings in Onsemi were worth $1,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Onsemi by 0.7% in the fourth 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 in the last quarter. Norges Bank bought a new stake in Onsemi during the 4th quarter worth about $378,312,000. Dimensional Fund Advisors LP grew its holdings in Onsemi by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after acquiring an additional 771,610 shares during the period. Capital International Investors grew its stake in shares of Onsemi by 0.7% during the fourth quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company’s stock worth $265,737,000 after purchasing an additional 31,365 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after buying an additional 1,037,624 shares during the period. Institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 5.8 %

Shares of ON stock opened at $41.91 on Friday. The business has a 50-day moving average price of $40.48 and a two-hundred day moving average price of $55.00. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market cap of $17.69 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Equities analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ON has been the topic of a number of research reports. Wells Fargo & Company cut their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Mizuho lowered their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Stifel Nicolaus reduced their price objective on Onsemi from $52.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. UBS Group dropped their target price on Onsemi from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group cut their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.24.

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.