Millennium Management LLC Lowers Stock Holdings in Visteon Co. (NASDAQ:VC)

Millennium Management LLC decreased its position in shares of Visteon Co. (NASDAQ:VC - Free Report) by 44.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,432 shares of the company's stock after selling 177,688 shares during the period. Millennium Management LLC owned approximately 0.79% of Visteon worth $19,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Visteon by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,609 shares of the company's stock worth $32,526,000 after purchasing an additional 25,319 shares during the last quarter. Sei Investments Co. grew its stake in shares of Visteon by 93.2% in the fourth quarter. Sei Investments Co. now owns 147,603 shares of the company's stock worth $13,095,000 after purchasing an additional 71,202 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Visteon by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 656,347 shares of the company's stock valued at $58,231,000 after acquiring an additional 17,526 shares in the last quarter. Royce & Associates LP boosted its position in Visteon by 39.2% during the 4th quarter. Royce & Associates LP now owns 281,508 shares of the company's stock valued at $24,975,000 after acquiring an additional 79,294 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Visteon by 75.6% during the 4th quarter. Wells Fargo & Company MN now owns 17,786 shares of the company's stock valued at $1,578,000 after acquiring an additional 7,656 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VC shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $74.00 price objective (down from $103.00) on shares of Visteon in a research report on Thursday, April 10th. Guggenheim cut their price objective on Visteon from $108.00 to $91.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Barclays reaffirmed an "equal weight" rating and set a $82.00 price objective (down from $110.00) on shares of Visteon in a research report on Tuesday, April 15th. Wells Fargo & Company lifted their target price on shares of Visteon from $96.00 to $101.00 and gave the company an "overweight" rating in a report on Monday. Finally, TD Cowen started coverage on shares of Visteon in a report on Friday, March 7th. They set a "buy" rating and a $108.00 target price for the company. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Visteon presently has an average rating of "Hold" and a consensus target price of $96.25.

Visteon Price Performance

Shares of NASDAQ VC opened at $83.85 on Thursday. Visteon Co. has a twelve month low of $65.10 and a twelve month high of $117.94. The firm has a market cap of $2.29 billion, a P/E ratio of 8.55, a PEG ratio of 0.42 and a beta of 1.23. The company has a 50 day moving average of $78.22 and a 200 day moving average of $84.46. The company has a quick ratio of 1.47, a current ratio of 1.74 and a debt-to-equity ratio of 0.23.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.70. Visteon had a net margin of 7.09% and a return on equity of 24.58%. The company had revenue of $934.00 million during the quarter, compared to analyst estimates of $906.38 million. During the same period in the previous year, the business earned $1.61 EPS. The firm's revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts expect that Visteon Co. will post 8.42 EPS for the current fiscal year.

Visteon Company Profile

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.

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