Artisan Partners Limited Partnership Decreases Position in Onsemi (NASDAQ:ON)

Artisan Partners Limited Partnership reduced its stake in Onsemi (NASDAQ:ON - Free Report) by 36.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,982,735 shares of the semiconductor company's stock after selling 2,303,632 shares during the quarter. Artisan Partners Limited Partnership owned about 0.94% of Onsemi worth $251,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ON. Truvestments Capital LLC increased its stake in Onsemi by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 207 shares in the last quarter. Assetmark Inc. increased its position in shares of Onsemi by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock valued at $4,949,000 after acquiring an additional 235 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Onsemi by 3.9% in the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock valued at $424,000 after acquiring an additional 252 shares in the last quarter. Clear Creek Financial Management LLC boosted its stake in Onsemi by 6.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company's stock valued at $275,000 after purchasing an additional 282 shares during the last quarter. Finally, Savant Capital LLC increased its holdings in shares of Onsemi by 9.9% in the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company's stock worth $208,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price target on shares of Onsemi in a research note on Monday, March 3rd. Mizuho lowered their price objective on shares of Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Benchmark lowered their price target on Onsemi from $90.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Finally, Citigroup dropped their price target on Onsemi from $77.00 to $52.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Onsemi presently has an average rating of "Moderate Buy" and a consensus price target of $66.50.

Onsemi Price Performance

Shares of ON stock traded down $2.82 during mid-day trading on Friday, hitting $40.94. The company had a trading volume of 10,437,180 shares, compared to its average volume of 7,105,551. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock's 50 day moving average price is $48.92 and its 200-day moving average price is $61.25. Onsemi has a 52-week low of $40.62 and a 52-week high of $80.08. The company has a market capitalization of $17.25 billion, a P/E ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Equities research analysts forecast that Onsemi will post 2.6 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.