California State Teachers Retirement System Sells 69,469 Shares of Onsemi (NASDAQ:ON)

California State Teachers Retirement System trimmed its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 597,855 shares of the semiconductor company's stock after selling 69,469 shares during the quarter. California State Teachers Retirement System owned about 0.14% of Onsemi worth $37,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ON. Blue Trust Inc. lifted its holdings in shares of Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock worth $509,000 after acquiring an additional 1,119 shares during the last quarter. Deltec Asset Management LLC bought a new position in shares of Onsemi in the fourth quarter worth about $6,343,000. Pacer Advisors Inc. lifted its holdings in shares of Onsemi by 21.5% in the fourth quarter. Pacer Advisors Inc. now owns 75,692 shares of the semiconductor company's stock worth $4,772,000 after acquiring an additional 13,412 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Onsemi by 288.9% in the fourth quarter. Empowered Funds LLC now owns 160,770 shares of the semiconductor company's stock worth $10,137,000 after acquiring an additional 119,428 shares during the last quarter. Finally, Ibex Wealth Advisors bought a new position in shares of Onsemi in the fourth quarter worth about $316,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Up 1.2%

NASDAQ ON traded up $0.52 during mid-day trading on Monday, hitting $42.54. The company's stock had a trading volume of 6,893,976 shares, compared to its average volume of 7,835,436. The company's 50 day simple moving average is $39.52 and its 200 day simple moving average is $50.77. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $1.08 EPS. Onsemi's revenue was down 22.4% compared to the same quarter last year. Analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

ON has been the subject of several recent research reports. Roth Capital set a $60.00 price objective on Onsemi in a research note on Friday, March 7th. Citigroup dropped their price objective on shares of Onsemi from $52.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Loop Capital dropped their price objective on shares of Onsemi from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their price objective on shares of Onsemi from $77.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their price objective on shares of Onsemi from $52.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Onsemi currently has an average rating of "Moderate Buy" and an average target price of $54.12.

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.