M&T Bank Corp Has $6.81 Million Holdings in Onsemi (NASDAQ:ON)

M&T Bank Corp cut its position in shares of Onsemi (NASDAQ:ON) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,578 shares of the semiconductor company’s stock after selling 8,900 shares during the period. M&T Bank Corp’s holdings in Onsemi were worth $6,814,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Provence Wealth Management Group acquired a new position in shares of Onsemi in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Onsemi during the fourth quarter worth $32,000. Hanseatic Management Services Inc. bought a new stake in shares of Onsemi during the third quarter worth $38,000. Headinvest LLC bought a new stake in shares of Onsemi during the third quarter worth $44,000. Finally, Planned Solutions Inc. bought a new position in Onsemi in the fourth quarter valued at $46,000. 97.70% of the stock is owned by institutional investors.

Onsemi Stock Up 0.5 %

Onsemi stock opened at $70.37 on Monday. 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 has a 52 week low of $59.34 and a 52 week high of $111.35. The business’s 50-day moving average price is $72.35 and its 200 day moving average price is $74.54. The firm has a market cap of $30.28 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 3.18 and a beta of 1.78.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on ON shares. KeyCorp reduced their target price on Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. JPMorgan Chase & Co. decreased their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Roth Mkm boosted their price objective on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Truist Financial lowered their target price on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, B. Riley reiterated a “buy” rating and issued a $103.00 price target (down from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

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.