Marshall Wace LLP Has $21.94 Million Stock Position in Onsemi (NASDAQ:ON)

Marshall Wace LLP trimmed its position in Onsemi (NASDAQ:ON - Free Report) by 52.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 347,991 shares of the semiconductor company's stock after selling 378,386 shares during the period. Marshall Wace LLP owned about 0.08% of Onsemi worth $21,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi in the fourth quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onsemi during the 4th quarter worth $43,000. Synergy Asset Management LLC purchased a new position in shares of Onsemi in the 4th quarter worth $51,000. Plato Investment Management Ltd purchased a new stake in Onsemi during the fourth quarter valued at about $51,000. Finally, Rakuten Securities Inc. increased its stake in 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 acquiring an additional 691 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ON. Roth Mkm decreased their target price on Onsemi from $100.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Citigroup lowered their price objective on shares of Onsemi from $52.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Mizuho reduced their target price 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 shares of Onsemi from $90.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Finally, B. Riley lowered shares of Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.24.

Onsemi Stock Performance

Shares of NASDAQ:ON traded down $0.21 on Friday, hitting $39.75. 2,970,917 shares of the company were exchanged, compared to its average volume of 7,492,071. Onsemi has a one year low of $31.04 and a one year high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 16.74 and a beta of 1.48. The company's 50 day moving average price is $42.12 and its two-hundred day moving average price is $56.27.

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 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%. Research analysts expect that Onsemi will post 2.6 earnings per share for the current 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.