Vanguard Group Inc. Boosts Stock Position in Onsemi (NASDAQ:ON)

Vanguard Group Inc. increased its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,135,303 shares of the semiconductor company's stock after acquiring an additional 344,354 shares during the quarter. Vanguard Group Inc. owned approximately 12.01% of Onsemi worth $3,224,081,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ON. Geode Capital Management LLC raised its position in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company's stock worth $767,646,000 after purchasing an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock valued at $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Onsemi by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company's stock worth $156,884,000 after buying an additional 83,665 shares during the last quarter. Robeco Schweiz AG lifted its stake in shares of Onsemi by 16.8% in the fourth quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company's stock valued at $77,804,000 after buying an additional 177,740 shares in the last quarter. Finally, Bridgewater Associates LP grew its holdings in shares of Onsemi by 8,367.5% during the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company's stock valued at $81,544,000 after buying an additional 1,109,778 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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Onsemi Price Performance

Shares of ON traded down $2.82 during mid-day trading on Friday, reaching $40.94. 10,437,180 shares of the stock traded hands, compared to its average volume of 7,105,551. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a 1 year low of $40.62 and a 1 year high of $80.08. The firm has a fifty day moving average price of $48.92 and a 200 day moving average price of $61.21. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. As a group, equities research analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Onsemi from $77.00 to $52.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Truist Financial cut their target price on Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research report on Tuesday, February 11th. Benchmark lowered their price target on Onsemi from $90.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. B. Riley dropped their price objective on Onsemi from $90.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, UBS Group reduced their target price on shares of Onsemi from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $66.50.

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.