Proficio Capital Partners LLC Acquires Shares of 75,849 Onsemi (NASDAQ:ON)

Proficio Capital Partners LLC bought a new position in shares of Onsemi (NASDAQ:ON) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 75,849 shares of the semiconductor company’s stock, valued at approximately $4,782,000.

Several other hedge funds have also modified their holdings of ON. Bridgewater Associates LP boosted its stake in shares of Onsemi by 8,367.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after acquiring an additional 1,109,778 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Onsemi by 19.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after purchasing an additional 326,734 shares during the last quarter. Geode Capital Management LLC grew its holdings in Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares during the last quarter. Finally, Robeco Schweiz AG raised its stake in shares of Onsemi by 16.8% during the 4th quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock worth $77,804,000 after buying an additional 177,740 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Up 2.0 %

Shares of ON opened at $44.05 on Tuesday. Onsemi has a twelve month low of $41.59 and a twelve month high of $80.08. The firm has a market capitalization of $18.56 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $51.18 and its 200 day simple moving average is $62.89.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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 return on equity of 20.10% and a net margin of 22.21%. On average, equities research analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. B. Riley lowered their price objective on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Jefferies Financial Group lowered their price target 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. Mizuho cut their price objective on Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Benchmark lowered their target price on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a report on Thursday, February 27th. Two 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. According to MarketBeat.com, the stock presently has a consensus 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.