California Public Employees Retirement System Has $43.18 Million Stake in Onsemi (NASDAQ:ON)

California Public Employees Retirement System lowered its position in shares of Onsemi (NASDAQ:ON - Free Report) by 67.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 684,778 shares of the semiconductor company's stock after selling 1,418,391 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Onsemi worth $43,175,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Onsemi during the fourth quarter worth about $378,312,000. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $247,226,000 after acquiring an additional 1,037,624 shares during the period. Vanguard Group Inc. boosted its stake in shares of Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Andra AP fonden grew its holdings in Onsemi by 2,388.4% during the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company's stock valued at $21,651,000 after purchasing an additional 329,600 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company's stock worth $767,646,000 after buying an additional 309,445 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ON shares. Citigroup cut their target price on shares of Onsemi from $77.00 to $52.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Mizuho decreased their target price on Onsemi from $71.00 to $62.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Needham & Company LLC restated a "buy" rating and set a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their target price on shares of Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, UBS Group decreased their target price on Onsemi from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Onsemi has an average rating of "Moderate Buy" and a consensus target price of $66.50.

Onsemi Stock Performance

ON traded down $1.86 during trading on Friday, reaching $33.70. 14,293,735 shares of the company's stock were exchanged, compared to its average volume of 7,184,982. Onsemi has a fifty-two week low of $33.21 and a fifty-two week high of $80.08. The company has a market capitalization of $14.20 billion, a P/E ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48. 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 business has a 50 day moving average price of $47.20 and a 200 day moving average price of $60.15.

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 net margin of 22.21% and a return on equity of 20.10%. As a group, analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Onsemi Company 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.