Proficio Capital Partners LLC Acquires New Stake in Onsemi (NASDAQ:ON)

Proficio Capital Partners LLC acquired a new stake in Onsemi (NASDAQ:ON) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 75,849 shares of the semiconductor company’s stock, valued at approximately $4,782,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi in the fourth quarter valued at approximately $41,000. Safe Harbor Fiduciary LLC acquired a new position in Onsemi during the third quarter worth $43,000. Synergy Asset Management LLC purchased a new stake in Onsemi in the 4th quarter valued at $51,000. Plato Investment Management Ltd acquired a new stake in shares of Onsemi in the 4th quarter worth $51,000. Finally, Westside Investment Management Inc. raised its holdings in shares of Onsemi by 67.9% during the 3rd quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 380 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of ON opened at $44.05 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 1-year low of $41.59 and a 1-year high of $80.08. The stock has a market cap of $18.56 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The firm has a fifty day moving average price of $51.18 and a 200 day moving average price of $62.89.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data 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 net margin of 22.21% and a return on equity of 20.10%. As a group, sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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 report on Tuesday, February 11th. Mizuho cut their target price on Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a research note on Thursday, February 27th. Morgan Stanley lowered their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Finally, Citigroup reduced 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.85.

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.