Onsemi (NASDAQ:ON) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in Onsemi (NASDAQ:ON - Free Report) by 12.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,091,235 shares of the semiconductor company's stock after selling 708,473 shares during the period. Pictet Asset Management Holding SA owned approximately 1.20% of Onsemi worth $321,002,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi in the 3rd quarter valued at about $43,000. Newbridge Financial Services Group Inc. acquired a new stake in Onsemi in the fourth quarter valued at approximately $41,000. Synergy Asset Management LLC purchased a new position in Onsemi in the fourth quarter worth approximately $51,000. Plato Investment Management Ltd acquired a new position in Onsemi during the 4th quarter worth approximately $51,000. Finally, Rakuten Securities Inc. increased its position in shares of Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 691 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

ON traded down $0.27 during trading on Monday, hitting $40.67. The stock had a trading volume of 5,451,250 shares, compared to its average volume of 7,102,000. Onsemi has a twelve month low of $39.37 and a twelve month high of $80.08. The firm has a market capitalization of $17.14 billion, a P/E ratio of 11.12, a PEG ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The company's 50-day moving average price is $48.92 and its 200 day moving average price is $61.14.

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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 (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.

Analyst Ratings Changes

ON has been the subject of several recent analyst reports. Roth Mkm decreased their price objective on shares of Onsemi from $100.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Susquehanna decreased their price target on Onsemi from $70.00 to $60.00 and set a "positive" rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on Onsemi from $80.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Morgan Stanley decreased their target price on Onsemi from $52.00 to $44.00 and set an "underweight" rating for the company in a research note on Tuesday, February 11th. Finally, KeyCorp dropped their price target on shares of Onsemi from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $66.50.

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.