Swedbank AB Sells 31,483 Shares of Onsemi (NASDAQ:ON)

Swedbank AB trimmed its position in Onsemi (NASDAQ:ON - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 649,625 shares of the semiconductor company's stock after selling 31,483 shares during the quarter. Swedbank AB owned about 0.15% of Onsemi worth $40,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company's stock worth $767,646,000 after acquiring an additional 309,445 shares during the last quarter. Van ECK Associates Corp raised its holdings in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company's stock valued at $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company's stock worth $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Onsemi by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company's stock valued at $174,597,000 after purchasing an additional 31,889 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Onsemi by 19.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company's stock valued at $145,887,000 after purchasing an additional 326,734 shares in 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 analyst reports. Wells Fargo & Company cut their target price on Onsemi from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. KeyCorp cut their price objective on Onsemi from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 14th. Roth Mkm reaffirmed a "buy" rating and issued a $100.00 target price on shares of Onsemi in a report on Thursday, December 12th. Susquehanna cut their price target on shares of Onsemi from $80.00 to $70.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. Finally, B. Riley decreased their price objective on shares of Onsemi from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.70.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company's stock.

Onsemi Stock Down 1.7 %

NASDAQ:ON traded down $0.91 on Thursday, hitting $52.86. 3,711,294 shares of the company's stock were exchanged, compared to its average volume of 8,996,709. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a 50-day moving average price of $63.22 and a 200-day moving average price of $68.67. The company has a market cap of $22.51 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 10.62 and a beta of 1.64. Onsemi has a 52 week low of $51.81 and a 52 week high of $85.16.

Onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.75 billion. During the same period in the prior year, the firm earned $1.39 EPS. Onsemi's quarterly revenue was down 19.2% compared to the same quarter last year. As a group, analysts expect that Onsemi will post 4 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.