Edmond DE Rothschild Holding S.A. Decreases Stock Position in Onsemi (NASDAQ:ON)

Edmond DE Rothschild Holding S.A. lessened its position in shares of Onsemi (NASDAQ:ON) by 80.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,208 shares of the semiconductor company’s stock after selling 62,226 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Onsemi were worth $959,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ON. Vanguard Group Inc. raised its holdings in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after acquiring an additional 344,354 shares during the period. Geode Capital Management LLC raised its stake in shares of Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares during the period. Norges Bank purchased a new stake in Onsemi during the 4th quarter worth about $378,312,000. Allspring Global Investments Holdings LLC lifted 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 purchasing an additional 1,037,624 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Onsemi by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after buying an additional 83,665 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

ON opened at $40.20 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 1 year low of $39.10 and a 1 year high of $80.08. The stock’s 50 day simple moving average is $48.33 and its 200 day simple moving average is $60.72. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of 11.07, 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 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ON shares. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a research report on Monday, March 3rd. Truist Financial cut their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Roth Capital set a $60.00 price target on shares of Onsemi in a report on Friday, March 7th. Morgan Stanley reduced their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. decreased their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.50.

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.