Prosperitas Financial LLC Grows Position in Onsemi (NASDAQ:ON)

Prosperitas Financial LLC grew its stake in Onsemi (NASDAQ:ON) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,246 shares of the semiconductor company’s stock after buying an additional 4,466 shares during the period. Prosperitas Financial LLC’s holdings in Onsemi were worth $2,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in shares of Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in Onsemi during the 3rd quarter valued at about $33,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Onsemi in the third quarter valued at about $43,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi in the fourth quarter worth about $41,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Onsemi during the fourth quarter worth about $51,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on ON shares. Wells Fargo & Company cut their price target 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. Loop Capital started coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. Mizuho decreased their target price on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Benchmark cut their price target on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, Citigroup decreased their price objective on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.12.

Onsemi Trading Down 6.3 %

ON stock opened at $47.38 on Friday. Onsemi has a 12-month low of $46.57 and a 12-month high of $85.16. The business’s 50-day moving average is $56.17 and its 200 day moving average is $65.60. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 16.74 and a beta of 1.62.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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%. On average, sell-side analysts anticipate 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.