Geode Capital Management LLC lessened its stake in Onsemi (NASDAQ:ON - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,516,791 shares of the semiconductor company's stock after selling 85,209 shares during the quarter. Geode Capital Management LLC owned 2.47% of Onsemi worth $661,858,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Onsemi in the fourth quarter valued at approximately $378,312,000. Allspring Global Investments Holdings LLC lifted its stake in Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock valued at $247,226,000 after buying an additional 1,037,624 shares in the last quarter. Vanguard Group Inc. boosted its position in Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock worth $3,224,081,000 after acquiring an additional 344,354 shares during the last quarter. Andra AP fonden lifted its position in Onsemi by 2,388.4% during the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company's stock worth $21,651,000 after buying an additional 329,600 shares during the period. Finally, Talos Asset Management LP purchased a new stake in Onsemi in the fourth quarter valued at approximately $13,328,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on ON shares. The Goldman Sachs Group reduced their price objective on Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of Onsemi from $52.00 to $44.00 and set an "underweight" rating for the company in a report on Tuesday, February 11th. Truist Financial reduced their price objective on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company dropped their price target on Onsemi from $80.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Finally, Jefferies Financial Group decreased their target price on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating for the company in a report on Monday, February 10th. 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 stock. According to MarketBeat.com, Onsemi has an average rating of "Moderate Buy" and an average target price of $65.92.
Check Out Our Latest Research Report on Onsemi
Onsemi Stock Performance
ON traded down $1.60 during midday trading on Tuesday, hitting $33.48. 5,843,973 shares of the company traded hands, compared to its average volume of 7,224,799. The company's 50-day moving average is $46.82 and its 200 day moving average is $59.73. Onsemi has a 52 week low of $32.20 and a 52 week high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $14.11 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.
Onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts' consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, research analysts expect that Onsemi will post 2.6 EPS for the current year.
Onsemi Company Profile
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Free Report)
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.
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