Onsemi (NASDAQ:ON) Shares Bought by Vestcor Inc

Vestcor Inc lifted its holdings in Onsemi (NASDAQ:ON) by 179.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,457 shares of the semiconductor company’s stock after purchasing an additional 13,778 shares during the period. Vestcor Inc’s holdings in Onsemi were worth $1,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi during the fourth quarter valued at $41,000. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi during the 3rd quarter worth about $43,000. Synergy Asset Management LLC purchased a new stake in Onsemi during the fourth quarter valued at about $51,000. Plato Investment Management Ltd acquired a new position in shares of Onsemi in the fourth quarter worth about $51,000. Finally, Rakuten Securities Inc. increased its position in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 691 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Craig Hallum lowered their price target on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Benchmark reduced their price objective on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Roth Mkm lowered their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, B. Riley reduced their price target 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.85.

Onsemi Trading Up 2.5 %

NASDAQ:ON opened at $43.19 on Friday. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $51.59 and its 200-day moving average is $63.20. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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 anticipate that Onsemi will post 2.6 EPS for the current 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.