Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in Onsemi (NASDAQ:ON)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Onsemi (NASDAQ:ON) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,043 shares of the semiconductor company’s stock after selling 6,074 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Onsemi were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after acquiring an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Onsemi by 3.5% in the fourth 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. Massachusetts Financial Services Co. MA raised its stake in shares of Onsemi by 19.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after buying an additional 326,734 shares during the period. Finally, Robeco Schweiz AG lifted its position in shares of Onsemi by 16.8% during the 4th quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock valued at $77,804,000 after buying an additional 177,740 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ON shares. UBS Group reduced their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Roth Mkm decreased their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. The Goldman Sachs Group cut their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Mizuho decreased their target price on Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Finally, Susquehanna dropped their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.85.

Onsemi Price Performance

Onsemi stock opened at $43.78 on Friday. The company has a market cap of $18.45 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a one year low of $41.59 and a one year high of $80.08. The business has a fifty day moving average of $50.00 and a two-hundred day moving average of $62.14. 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 (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 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 fiscal year.

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.