Neuberger Berman Group LLC decreased its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 896,666 shares of the semiconductor company's stock after selling 75,154 shares during the period. Neuberger Berman Group LLC owned approximately 0.21% of Onsemi worth $56,535,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ON. Newbridge Financial Services Group Inc. bought a new position in Onsemi in the fourth quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Onsemi in the 4th quarter valued at about $43,000. Synergy Asset Management LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at about $51,000. Plato Investment Management Ltd bought a new stake in Onsemi during the fourth quarter worth about $51,000. Finally, Rakuten Securities Inc. boosted its position in Onsemi by 434.6% during the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 691 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ON has been the subject of several recent analyst reports. Truist Financial cut their price objective on Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a report on Tuesday, February 11th. Rosenblatt Securities reissued a "neutral" rating and issued a $49.00 price objective on shares of Onsemi in a research report on Thursday, February 27th. 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 note on Monday, March 24th. Benchmark cut their target price on shares of Onsemi from $90.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Finally, UBS Group lowered their price target on Onsemi from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.46.
Read Our Latest Analysis on ON
Onsemi Price Performance
Shares of ON traded up $0.20 during trading hours on Friday, hitting $35.08. 20,276,242 shares of the company were exchanged, compared to its average volume of 7,470,119. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The company has a market cap of $14.81 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 16.74 and a beta of 1.48. The firm's fifty day moving average is $44.79 and its 200 day moving average is $58.43.
Onsemi (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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, equities analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal year.
About Onsemi
(
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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