Distillate Capital Partners LLC Cuts Stock Position in Onsemi (NASDAQ:ON)

Distillate Capital Partners LLC decreased its stake in shares of Onsemi (NASDAQ:ON) by 46.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,961 shares of the semiconductor company’s stock after selling 236,029 shares during the quarter. Distillate Capital Partners LLC owned about 0.06% of Onsemi worth $16,832,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ON. Integrated Wealth Concepts LLC grew its holdings in shares of Onsemi by 19.7% during the third quarter. Integrated Wealth Concepts LLC now owns 4,548 shares of the semiconductor company’s stock valued at $330,000 after buying an additional 750 shares during the last quarter. Stifel Financial Corp lifted its position in Onsemi by 2.9% in the 3rd quarter. Stifel Financial Corp now owns 112,847 shares of the semiconductor company’s stock valued at $8,194,000 after acquiring an additional 3,162 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Onsemi by 68.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 5,989 shares of the semiconductor company’s stock valued at $435,000 after purchasing an additional 2,440 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Onsemi by 6.9% in the 3rd quarter. M&T Bank Corp now owns 32,519 shares of the semiconductor company’s stock worth $2,362,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Onsemi by 19.6% in the third quarter. Coldstream Capital Management Inc. now owns 6,498 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 1,066 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

NASDAQ:ON opened at $35.08 on Friday. The business’s 50-day moving average is $44.79 and its 200 day moving average is $58.43. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08. The company has a market capitalization of $14.81 billion, a P/E ratio of 9.66, a P/E/G ratio of 16.74 and a beta of 1.48. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Craig Hallum dropped their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Mizuho dropped their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $49.00 price target on shares of Onsemi in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Finally, Roth Capital set a $60.00 target price on shares of Onsemi in a research report on Friday, March 7th. Two investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.46.

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.