HighTower Advisors LLC Sells 3,686 Shares of Onsemi (NASDAQ:ON)

HighTower Advisors LLC cut its position in Onsemi (NASDAQ:ON) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,997 shares of the semiconductor company’s stock after selling 3,686 shares during the quarter. HighTower Advisors LLC’s holdings in Onsemi were worth $2,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares in the last quarter. Cinctive Capital Management LP bought a new position in Onsemi during the third quarter worth $1,270,000. Blue Trust Inc. boosted its position in Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 1,119 shares during the period. Oak Thistle LLC bought a new position in Onsemi during the fourth quarter worth $515,000. Finally, Deltec Asset Management LLC bought a new position in Onsemi during the fourth quarter worth $6,343,000. 97.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ON. The Goldman Sachs Group lowered their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Craig Hallum reduced their price objective on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Rosenblatt Securities restated a “neutral” rating and set a $49.00 price objective on shares of Onsemi in a report on Thursday, February 27th. Finally, Roth Capital set a $60.00 price objective on Onsemi in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.85.

Onsemi Stock Up 1.3 %

Shares of NASDAQ:ON opened at $43.78 on Friday. The company has a fifty day moving average of $50.00 and a 200-day moving average of $62.14. The company has a market capitalization of $18.45 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. Onsemi has a 52-week low of $41.59 and a 52-week high of $80.08.

Onsemi (NASDAQ:ON) last announced its quarterly 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%. On average, equities analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

Onsemi Company 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.