Vestcor Inc Has $1.35 Million Holdings in Onsemi (NASDAQ:ON)

Vestcor Inc grew its stake in Onsemi (NASDAQ:ON) by 179.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,457 shares of the semiconductor company’s stock after purchasing an additional 13,778 shares during the period. Vestcor Inc’s holdings in Onsemi were worth $1,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ON. Truvestments Capital LLC increased its position in shares of Onsemi by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 207 shares during the period. Assetmark Inc. lifted its holdings in shares of Onsemi by 0.3% during the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after acquiring an additional 235 shares during the period. Metis Global Partners LLC boosted its position in shares of Onsemi by 1.8% during the 3rd quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company’s stock valued at $996,000 after acquiring an additional 237 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Onsemi by 3.9% in the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock valued at $424,000 after acquiring an additional 252 shares during the period. Finally, Clear Creek Financial Management LLC raised its position in Onsemi by 6.9% in the fourth quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock worth $275,000 after purchasing an additional 282 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

Shares of ON stock opened at $43.19 on Friday. The firm’s 50 day moving average price is $51.59 and its two-hundred day moving average price is $63.20. 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. The stock has a market cap of $18.20 billion, a PE ratio of 11.90, a PEG ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last posted 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%. As a group, analysts forecast that Onsemi will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

ON has been the topic of several analyst reports. Benchmark lowered their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group dropped their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Craig Hallum reduced their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Roth Capital set a $60.00 target price on shares of Onsemi in a research report on Friday, March 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $57.00 price target on shares of Onsemi in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and an average price target of $66.85.

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.