Alpine Global Management LLC Cuts Holdings in Onsemi (NASDAQ:ON)

Alpine Global Management LLC decreased its position in Onsemi (NASDAQ:ON - Free Report) by 77.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,200 shares of the semiconductor company's stock after selling 63,400 shares during the quarter. Alpine Global Management LLC's holdings in Onsemi were worth $1,148,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in Onsemi by 12.9% during the 4th quarter. Stifel Financial Corp now owns 127,441 shares of the semiconductor company's stock valued at $8,035,000 after purchasing an additional 14,594 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Onsemi by 209.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 119,925 shares of the semiconductor company's stock valued at $7,561,000 after purchasing an additional 81,181 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Onsemi by 3,005.9% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,056 shares of the semiconductor company's stock worth $67,000 after buying an additional 1,022 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Onsemi by 1.2% during the 4th quarter. MetLife Investment Management LLC now owns 112,681 shares of the semiconductor company's stock worth $7,105,000 after buying an additional 1,286 shares during the period. Finally, Natixis grew its stake in Onsemi by 48.7% in the 4th quarter. Natixis now owns 185,231 shares of the semiconductor company's stock valued at $11,679,000 after buying an additional 60,704 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Down 0.8 %

Shares of ON traded down $0.33 during trading hours on Friday, hitting $39.63. The company had a trading volume of 7,554,416 shares, compared to its average volume of 7,502,358. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The stock has a market capitalization of $16.73 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 16.74 and a beta of 1.48. The firm has a fifty day moving average price of $41.87 and a 200-day moving average price of $56.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS for the current fiscal year.

Analysts Set New Price Targets

ON has been the topic of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $57.00 target price on shares of Onsemi in a research note on Monday, March 3rd. Benchmark dropped their target price on Onsemi from $90.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. UBS Group decreased their price target on shares of Onsemi from $72.00 to $65.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group dropped their price objective on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Roth Capital set a $60.00 target price on shares of Onsemi in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of "Moderate Buy" and an average price target of $62.24.

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.