Nuveen Asset Management LLC Sells 41,368 Shares of Onsemi (NASDAQ:ON)

Nuveen Asset Management LLC trimmed its position in shares of Onsemi (NASDAQ:ON - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,000,623 shares of the semiconductor company's stock after selling 41,368 shares during the period. Nuveen Asset Management LLC owned about 0.23% of Onsemi worth $63,089,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ON. Park Avenue Securities LLC boosted its holdings in Onsemi by 14.8% in the fourth quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company's stock valued at $599,000 after acquiring an additional 1,221 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Onsemi by 40.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company's stock worth $1,763,000 after purchasing an additional 8,043 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Onsemi during the 4th quarter valued at about $5,644,000. Atwood & Palmer Inc. increased its position in shares of Onsemi by 0.9% during the fourth quarter. Atwood & Palmer Inc. now owns 282,111 shares of the semiconductor company's stock valued at $17,787,000 after buying an additional 2,455 shares during the period. Finally, Inspire Investing LLC raised its stake in Onsemi by 3.0% in the fourth quarter. Inspire Investing LLC now owns 56,966 shares of the semiconductor company's stock worth $3,592,000 after buying an additional 1,639 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ON shares. Benchmark decreased their price objective on Onsemi from $60.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Mizuho decreased their price target on shares of Onsemi from $71.00 to $62.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. Rosenblatt Securities reissued a "neutral" rating and set a $42.00 price objective on shares of Onsemi in a research note on Tuesday, May 6th. Morgan Stanley started coverage on shares of Onsemi in a report on Monday, May 12th. They issued an "equal weight" rating and a $39.00 price objective on the stock. Finally, Citigroup lowered their target price 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. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Onsemi has an average rating of "Moderate Buy" and a consensus price target of $54.12.

Onsemi Stock Performance

Shares of Onsemi stock traded down $1.37 during trading on Thursday, hitting $42.29. 12,459,677 shares of the company's stock traded hands, compared to its average volume of 7,787,858. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08. The business has a 50-day simple moving average of $39.84 and a 200-day simple moving average of $52.53. The stock has a market capitalization of $17.67 billion, a P/E ratio of 11.65, a PEG ratio of 16.74 and a beta of 1.39. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

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

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.