Evexia Wealth LLC Acquires 417 Shares of Onsemi (NASDAQ:ON)

Evexia Wealth LLC lifted its stake in Onsemi (NASDAQ:ON) by 13.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,438 shares of the semiconductor company’s stock after purchasing an additional 417 shares during the period. Evexia Wealth LLC’s holdings in Onsemi were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ON. International Assets Investment Management LLC increased its holdings in shares of Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after purchasing an additional 82,301 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in shares of Onsemi by 7.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after acquiring an additional 637 shares in the last quarter. State of Michigan Retirement System raised its holdings 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 valued at $11,739,000 after acquiring an additional 4,900 shares in the last quarter. Synergy Asset Management LLC boosted its position in shares of Onsemi by 91.5% during the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after acquiring an additional 73,909 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Onsemi in the fourth quarter worth approximately $1,137,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. JPMorgan Chase & Co. reduced their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price target on shares of Onsemi in a research note on Tuesday, April 30th. Roth Mkm increased their price objective on Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus dropped their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Trading Up 1.6 %

ON stock traded up $1.12 on Tuesday, reaching $70.79. The company’s stock had a trading volume of 6,774,637 shares, compared to its average volume of 7,526,044. The firm has a market cap of $30.46 billion, a PE ratio of 14.45, a PEG ratio of 3.18 and a beta of 1.78. The business has a fifty day simple moving average of $72.07 and a two-hundred day simple moving average of $74.32. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, research analysts forecast that Onsemi will post 3.86 EPS for the current 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.