Simmons Bank Makes New $882,000 Investment in Onsemi (NASDAQ:ON)

Simmons Bank purchased a new position in shares of Onsemi (NASDAQ:ON) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,565 shares of the semiconductor company’s stock, valued at approximately $882,000.

Several other institutional investors have also recently made changes to their positions in ON. Commonwealth Equity Services LLC lifted its holdings in shares of Onsemi by 9.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock worth $5,082,000 after acquiring an additional 4,741 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Onsemi by 11.6% during the third quarter. Stratos Wealth Partners LTD. now owns 5,546 shares of the semiconductor company’s stock worth $516,000 after buying an additional 576 shares during the period. Brown Advisory Inc. raised its holdings in shares of Onsemi by 5.3% in the 3rd quarter. Brown Advisory Inc. now owns 3,950 shares of the semiconductor company’s stock valued at $367,000 after buying an additional 200 shares during the period. Lindbrook Capital LLC lifted its stake in Onsemi by 10.8% during the 3rd quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company’s stock worth $165,000 after acquiring an additional 173 shares in the last quarter. Finally, Advisor Partners II LLC grew its holdings in shares of Onsemi by 36.5% in the third quarter. Advisor Partners II LLC now owns 16,092 shares of the semiconductor company’s stock valued at $1,496,000 after purchasing an additional 4,301 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp lowered their price target on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Roth Mkm lifted their price target on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. TD Cowen dropped their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Stifel Nicolaus decreased their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Finally, Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Trading Down 0.4 %

Shares of NASDAQ ON traded down $0.25 during midday trading on Wednesday, hitting $70.54. The stock had a trading volume of 3,057,790 shares, compared to its average volume of 7,474,314. The company has a fifty day moving average price of $72.07 and a 200 day moving average price of $74.32. The company has a market capitalization of $30.35 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 3.18 and a beta of 1.78. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, analysts predict that Onsemi will post 3.86 earnings per share for the current year.

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.