Bank Julius Baer & Co. Ltd Zurich Cuts Stake in Onsemi (NASDAQ:ON)

Bank Julius Baer & Co. Ltd Zurich cut its stake in Onsemi (NASDAQ:ON) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,526 shares of the semiconductor company’s stock after selling 13,749 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Onsemi were worth $7,395,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its position in shares of Onsemi by 1.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 247,184 shares of the semiconductor company’s stock worth $20,647,000 after acquiring an additional 4,339 shares during the last quarter. Syon Capital LLC increased its position in shares of Onsemi by 6.0% during the fourth quarter. Syon Capital LLC now owns 4,045 shares of the semiconductor company’s stock worth $338,000 after acquiring an additional 229 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Onsemi by 11.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,246 shares of the semiconductor company’s stock worth $939,000 after acquiring an additional 1,168 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Onsemi by 7.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after buying an additional 637 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Onsemi in the fourth quarter valued at approximately $224,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

NASDAQ:ON traded up $1.68 during mid-day trading on Friday, hitting $68.06. The company’s stock had a trading volume of 12,583,403 shares, compared to its average volume of 7,475,706. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $29.26 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 6.40 and a beta of 1.80. The stock has a fifty day moving average of $73.32 and a 200-day moving average of $75.70.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.32 earnings per share. As a group, equities analysts forecast that Onsemi will post 4.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ON shares. Roth Mkm boosted their price objective on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Truist Financial dropped their price target on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. BNP Paribas reissued an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. JPMorgan Chase & Co. cut their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, Evercore ISI assumed coverage on shares of Onsemi in a research note on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.28.

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.