Corebridge Financial Inc. Has $8.10 Million Holdings in Onsemi (NASDAQ:ON)

Corebridge Financial Inc. lowered its holdings in Onsemi (NASDAQ:ON - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 128,506 shares of the semiconductor company's stock after selling 7,090 shares during the quarter. Corebridge Financial Inc.'s holdings in Onsemi were worth $8,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Safe Harbor Fiduciary LLC acquired a new stake in shares of Onsemi in the 3rd quarter valued at about $43,000. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi in the fourth quarter valued at approximately $41,000. Synergy Asset Management LLC purchased a new stake in Onsemi in the 4th quarter valued at $51,000. Plato Investment Management Ltd acquired a new stake in Onsemi during the 4th quarter worth $51,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Onsemi by 434.6% during the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock worth $54,000 after buying an additional 691 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research note on Tuesday, February 11th. The Goldman Sachs Group reduced their target price on Onsemi from $77.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. UBS Group decreased their target price on shares of Onsemi from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Morgan Stanley cut 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. Finally, Craig Hallum decreased their price objective on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Onsemi currently has a consensus rating of "Moderate Buy" and an average price target of $66.50.

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Onsemi Stock Performance

NASDAQ:ON traded down $1.02 during midday trading on Monday, reaching $39.92. The stock had a trading volume of 3,892,933 shares, compared to its average volume of 7,093,343. Onsemi has a 1-year low of $39.37 and a 1-year high of $80.08. The stock has a market capitalization of $16.82 billion, a P/E ratio of 10.99, a PEG ratio of 16.74 and a beta of 1.59. The firm's fifty day simple moving average is $48.92 and its 200-day simple moving average is $61.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. On average, equities research analysts forecast that Onsemi will post 2.6 EPS for the current fiscal 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.