Carmel Capital Partners LLC Buys 3,109 Shares of Onsemi (NASDAQ:ON)

Carmel Capital Partners LLC grew its stake in shares of Onsemi (NASDAQ:ON) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,798 shares of the semiconductor company’s stock after acquiring an additional 3,109 shares during the quarter. Onsemi comprises approximately 0.7% of Carmel Capital Partners LLC’s portfolio, making the stock its 29th biggest position. Carmel Capital Partners LLC’s holdings in Onsemi were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ON. Inceptionr LLC bought a new stake in Onsemi in the 4th quarter worth about $758,000. Arizona State Retirement System raised its position in Onsemi by 0.9% in the 4th quarter. Arizona State Retirement System now owns 124,401 shares of the semiconductor company’s stock worth $7,843,000 after buying an additional 1,140 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Onsemi in the 4th quarter worth about $4,782,000. Assetmark Inc. raised its position in Onsemi by 0.3% in the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after buying an additional 235 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its position in Onsemi by 69.5% in the 4th quarter. J.Safra Asset Management Corp now owns 3,716 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,524 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ON has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $57.00 target price on shares of Onsemi in a research report on Monday. Loop Capital started coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Two investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.12.

Onsemi Stock Up 4.5 %

NASDAQ ON opened at $46.49 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The company has a market capitalization of $19.59 billion, a P/E ratio of 12.81, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a one year low of $43.94 and a one year high of $85.16. The stock has a 50 day moving average price of $54.89 and a 200-day moving average price of $64.91.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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, equities analysts predict that Onsemi will post 2.6 EPS for the current fiscal 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.