Independent Advisor Alliance Increases Stock Position in Onsemi (NASDAQ:ON)

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

Several other hedge funds also recently bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its stake in Onsemi by 9.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 166,825 shares of the semiconductor company’s stock worth $10,518,000 after buying an additional 14,229 shares during the period. Moran Wealth Management LLC boosted its stake in Onsemi by 30.4% during the fourth quarter. Moran Wealth Management LLC now owns 45,797 shares of the semiconductor company’s stock worth $2,888,000 after buying an additional 10,682 shares during the period. Intellectus Partners LLC boosted its stake in Onsemi by 6.7% during the fourth quarter. Intellectus Partners LLC now owns 13,754 shares of the semiconductor company’s stock worth $867,000 after buying an additional 869 shares during the period. Machina Capital S.A.S. boosted its stake in Onsemi by 327.1% during the fourth quarter. Machina Capital S.A.S. now owns 12,566 shares of the semiconductor company’s stock worth $792,000 after buying an additional 9,624 shares during the period. Finally, Andra AP fonden boosted its stake in shares of Onsemi by 2,388.4% in the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock valued at $21,651,000 after purchasing an additional 329,600 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of Onsemi stock opened at $43.42 on Wednesday. The firm’s fifty day simple moving average is $50.80 and its 200-day simple moving average is $62.65. The stock has a market capitalization of $18.30 billion, a price-to-earnings ratio of 11.96, a PEG 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. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus lowered their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. KeyCorp lowered their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group lowered their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.85.

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.