O Shaughnessy Asset Management LLC Sells 5,363 Shares of Onsemi (NASDAQ:ON)

O Shaughnessy Asset Management LLC lessened its stake in Onsemi (NASDAQ:ON) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,664 shares of the semiconductor company’s stock after selling 5,363 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Onsemi were worth $2,186,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC lifted its stake in shares of Onsemi by 3.8% in the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 207 shares during the period. Assetmark Inc. raised its position in Onsemi by 0.3% in the fourth 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. V Square Quantitative Management LLC boosted its stake in shares of Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock worth $424,000 after acquiring an additional 252 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of Onsemi by 6.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock valued at $275,000 after acquiring an additional 282 shares during the period. Finally, Savant Capital LLC increased its stake in shares of Onsemi by 9.9% in the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 297 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ON shares. JPMorgan Chase & Co. lowered their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. B. Riley cut their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company decreased their target price on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price target on shares of Onsemi in a research report on Monday, March 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Onsemi Price Performance

ON stock opened at $33.70 on Friday. Onsemi has a 52 week low of $33.21 and a 52 week high of $80.08. The firm has a market capitalization of $14.20 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The company has a fifty day simple moving average of $47.20 and a two-hundred day simple moving average of $60.15. 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 (NASDAQ:ON) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. Analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal 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.