Groupama Asset Managment Cuts Stake in Onsemi (NASDAQ:ON)

Groupama Asset Managment lowered its position in Onsemi (NASDAQ:ON) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 512,269 shares of the semiconductor company’s stock after selling 5,595 shares during the period. Groupama Asset Managment owned 0.12% of Onsemi worth $32,299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the 3rd quarter valued at about $43,000. Newbridge Financial Services Group Inc. acquired a new position in Onsemi in the fourth quarter valued at $41,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi during the fourth quarter worth approximately $51,000. Plato Investment Management Ltd purchased a new stake in shares of Onsemi in the fourth quarter valued at approximately $51,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 691 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ON has been the subject of several recent research reports. Mizuho dropped their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Jefferies Financial Group lowered 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. B. Riley dropped their target price on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target on shares of Onsemi in a report on Monday, March 3rd. Finally, KeyCorp lowered their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Two equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Onsemi Trading Down 0.6 %

Shares of NASDAQ ON opened at $40.69 on Tuesday. The business has a 50 day simple moving average of $48.64 and a 200 day simple moving average of $60.94. Onsemi has a 52 week low of $39.36 and a 52 week high of $80.08. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 16.74 and a beta of 1.59. 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 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%. On average, research analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.