Spire Wealth Management Has $4.72 Million Stock Position in Onsemi (NASDAQ:ON)

Spire Wealth Management raised its holdings in shares of Onsemi (NASDAQ:ON) by 9.4% during the 4th quarter, HoldingsChannel reports. The fund owned 56,478 shares of the semiconductor company’s stock after purchasing an additional 4,832 shares during the period. Spire Wealth Management’s holdings in Onsemi were worth $4,718,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in Onsemi by 7,749.6% in the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after acquiring an additional 82,301 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after acquiring an additional 637 shares during the period. State of Michigan Retirement System lifted its stake in Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the period. Synergy Asset Management LLC grew its position in Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after acquiring an additional 73,909 shares during the period. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Onsemi during the fourth quarter valued at $1,137,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

NASDAQ ON traded down $0.70 during trading on Monday, reaching $69.67. The company’s stock had a trading volume of 6,050,639 shares, compared to its average volume of 7,533,349. The firm has a market cap of $29.97 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 3.18 and a beta of 1.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The business’s fifty day moving average price is $72.35 and its 200-day moving average price is $74.54. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35.

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

Analyst Ratings Changes

Several research firms have recently commented on ON. Evercore ISI assumed coverage on Onsemi in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group cut their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. TD Cowen decreased their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. One equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $90.24.

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.