Meeder Asset Management Inc. Has $410,000 Position in Onsemi (NASDAQ:ON)

Meeder Asset Management Inc. cut its holdings in Onsemi (NASDAQ:ON - Free Report) by 84.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,497 shares of the semiconductor company's stock after selling 36,124 shares during the period. Meeder Asset Management Inc.'s holdings in Onsemi were worth $410,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ON. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi during the third quarter worth about $43,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi during the 4th quarter worth approximately $41,000. Synergy Asset Management LLC bought a new stake in shares of Onsemi during the fourth quarter valued at approximately $51,000. Plato Investment Management Ltd acquired a new position in shares of Onsemi in the fourth quarter valued at $51,000. Finally, Rakuten Securities Inc. lifted its position in Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 691 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Down 5.2 %

Shares of NASDAQ ON traded down $1.86 during midday trading on Friday, hitting $33.70. The stock had a trading volume of 14,293,735 shares, compared to its average volume of 7,183,460. The firm has a market cap of $14.20 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. Onsemi has a fifty-two week low of $33.21 and a fifty-two week 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. The company's 50-day simple moving average is $47.20 and its 200 day simple moving average is $60.07.

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Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. Research analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ON. B. Riley lowered their price target on shares of Onsemi from $90.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. KeyCorp dropped their price target on shares of Onsemi from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company cut their price target 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. Truist Financial lowered their price objective on 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 Mkm cut their target price on Onsemi from $100.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.50.

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.