Independent Advisor Alliance Boosts Holdings in Onsemi (NASDAQ:ON)

Independent Advisor Alliance boosted its position in Onsemi (NASDAQ:ON) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,420 shares of the semiconductor company’s stock after buying an additional 901 shares during the period. Independent Advisor Alliance’s holdings in Onsemi were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ON. Assetmark Inc. boosted its position 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 purchasing an additional 235 shares in the last quarter. V Square Quantitative Management LLC boosted its position 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 purchasing an additional 252 shares in the last quarter. Clear Creek Financial Management LLC boosted 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 worth $275,000 after purchasing an additional 282 shares in the last quarter. Savant Capital LLC boosted its position in shares of Onsemi by 9.9% during 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. Finally, Simmons Bank boosted its position in shares of Onsemi by 1.5% during the 4th quarter. Simmons Bank now owns 20,828 shares of the semiconductor company’s stock worth $1,313,000 after purchasing an additional 310 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Stock Down 1.4 %

Shares of NASDAQ:ON opened at $43.42 on Wednesday. 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 1 year low of $41.59 and a 1 year high of $80.08. The stock has a market capitalization of $18.30 billion, a P/E ratio of 11.96, a PEG ratio of 16.74 and a beta of 1.59. The stock has a 50-day simple moving average of $50.80 and a 200-day simple moving average of $62.65.

Onsemi (NASDAQ:ON) last issued its 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 return on equity of 20.10% and a net margin of 22.21%. Equities analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

ON has been the topic of several recent research reports. Craig Hallum decreased their price objective on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Jefferies Financial Group decreased their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company decreased their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, UBS Group decreased their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.