Prudential Financial Inc. Sells 51,026 Shares of Onsemi (NASDAQ:ON)

Prudential Financial Inc. lowered its position in Onsemi (NASDAQ:ON - Free Report) by 17.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 240,347 shares of the semiconductor company's stock after selling 51,026 shares during the period. Prudential Financial Inc. owned 0.06% of Onsemi worth $15,154,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Onsemi by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock valued at $3,224,081,000 after acquiring an additional 344,354 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Onsemi during the 4th quarter worth about $279,000. KLP Kapitalforvaltning AS bought a new stake in Onsemi in the fourth quarter valued at about $8,720,000. AXQ Capital LP acquired a new position in Onsemi in the fourth quarter worth about $328,000. Finally, Quantbot Technologies LP acquired a new stake in Onsemi during the fourth quarter valued at approximately $786,000. 97.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on ON shares. Susquehanna lowered their price target on Onsemi from $70.00 to $60.00 and set a "positive" rating on the stock in a research report 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 on the stock in a research report on Tuesday, February 11th. Mizuho dropped their price target on Onsemi from $71.00 to $62.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Needham & Company LLC restated a "buy" rating and issued a $57.00 price objective on shares of Onsemi in a research report on Monday, March 3rd. Finally, Stifel Nicolaus lowered their target price on Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, Onsemi has a consensus rating of "Moderate Buy" and a consensus price target of $66.50.

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Onsemi Stock Down 2.5 %

Onsemi stock 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 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's fifty day simple moving average is $48.92 and its 200-day simple moving average is $61.14. The stock has a market capitalization of $16.82 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly 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 expect that Onsemi will post 2.6 EPS for the current fiscal year.

About Onsemi

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.