Principal Securities Inc. Raises Stock Position in Onsemi (NASDAQ:ON)

Principal Securities Inc. grew its holdings in shares of Onsemi (NASDAQ:ON) by 26.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,972 shares of the semiconductor company’s stock after purchasing an additional 841 shares during the period. Principal Securities Inc.’s holdings in Onsemi were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi during the third quarter worth approximately $33,000. GHP Investment Advisors Inc. increased its stake in shares of Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi during the fourth quarter worth approximately $41,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi during the third quarter worth approximately $43,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ON. Mizuho dropped their price target on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Jefferies Financial Group cut their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Citigroup cut their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. UBS Group cut their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.16.

Onsemi Price Performance

Shares of NASDAQ ON opened at $54.05 on Monday. The firm has a market capitalization of $22.78 billion, a P/E ratio of 14.89, a PEG ratio of 16.74 and a beta of 1.61. Onsemi has a one year low of $46.57 and a one year high of $85.16. The company’s fifty day moving average is $57.39 and its two-hundred day moving average is $66.11. 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) last released 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%. Analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

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.