MONECO Advisors LLC Has $1.27 Million Stock Holdings in Onsemi (NASDAQ:ON)

MONECO Advisors LLC lifted its position in shares of Onsemi (NASDAQ:ON) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,154 shares of the semiconductor company’s stock after purchasing an additional 594 shares during the period. MONECO Advisors LLC’s holdings in Onsemi were worth $1,266,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ON. Exchange Traded Concepts LLC increased its stake in shares of Onsemi by 199.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 2,707 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Onsemi by 16.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 410 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Onsemi by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock worth $5,082,000 after purchasing an additional 4,741 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Onsemi by 7.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock worth $4,546,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Balboa Wealth Partners acquired a new position in shares of Onsemi during the 3rd quarter worth about $212,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

Shares of Onsemi stock opened at $68.81 on Wednesday. The company has a 50 day moving average of $72.80 and a 200-day moving average of $74.99. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The company has a market cap of $29.58 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 7.03 and a beta of 1.80.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $1.19 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Onsemi will post 4.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Truist Financial decreased their price target on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday. Mizuho decreased their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley decreased their price target on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Finally, Rosenblatt Securities decreased their price target on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

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.