Alpine Global Management LLC Trims Position in Onsemi (NASDAQ:ON)

Alpine Global Management LLC lessened its stake in Onsemi (NASDAQ:ON) by 77.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,200 shares of the semiconductor company’s stock after selling 63,400 shares during the quarter. Alpine Global Management LLC’s holdings in Onsemi were worth $1,148,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ON. Norges Bank purchased a new position in Onsemi in the 4th quarter worth about $378,312,000. Janus Henderson Group PLC grew its holdings in Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after acquiring an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 acquiring an additional 1,037,624 shares in the last quarter. Freestone Grove Partners LP bought a new position in Onsemi during the 4th quarter worth about $62,426,000. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Onsemi from $60.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Robert W. Baird dropped their target price on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group dropped their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Loop Capital dropped their target price on shares of Onsemi from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Roth Mkm dropped their target price on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.12.

Onsemi Stock Down 3.1%

ON stock opened at $42.29 on Friday. The firm has a 50 day moving average of $39.80 and a 200 day moving average of $52.34. The stock has a market capitalization of $17.67 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Onsemi’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. Sell-side analysts forecast that Onsemi will post 2.6 earnings per share for the current 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.