J. Safra Sarasin Holding AG Sells 23,644 Shares of Onsemi (NASDAQ:ON)

J. Safra Sarasin Holding AG trimmed its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,812 shares of the semiconductor company's stock after selling 23,644 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Onsemi were worth $10,896,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Onsemi during the 4th quarter valued at approximately $378,312,000. Allspring Global Investments Holdings LLC increased its stake 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 valued at $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after purchasing an additional 771,610 shares during the period. Vanguard Group Inc. lifted its position in shares of Onsemi by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock worth $3,224,081,000 after buying an additional 344,354 shares during the last quarter. Finally, Andra AP fonden boosted its holdings in shares of Onsemi by 2,388.4% in the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company's stock valued at $21,651,000 after buying an additional 329,600 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ON has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Onsemi from $80.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley dropped their price target on Onsemi from $52.00 to $44.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 11th. B. Riley lowered Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 target price on shares of Onsemi in a research report on Monday, March 3rd. Finally, Jefferies Financial Group cut their target price on Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. One 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.24.

Onsemi Stock Down 0.8 %

Shares of Onsemi stock traded down $0.33 on Friday, hitting $39.63. 7,554,416 shares of the company traded hands, compared to its average volume of 7,502,272. The company has a market cap of $16.73 billion, a PE ratio of 10.92, a PEG ratio of 16.74 and a beta of 1.48. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $41.87 and a 200 day moving average price of $56.06.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly 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 return on equity of 20.10% and a net margin of 22.21%. Sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Onsemi 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.