Onsemi (NASDAQ:ON) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in Onsemi (NASDAQ:ON - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,428 shares of the semiconductor company's stock after selling 11,981 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Onsemi were worth $11,502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GTS Securities LLC boosted its position in shares of Onsemi by 42.9% during the 4th quarter. GTS Securities LLC now owns 58,012 shares of the semiconductor company's stock valued at $3,658,000 after acquiring an additional 17,429 shares during the last quarter. Vise Technologies Inc. raised its position in Onsemi by 75.7% during the fourth quarter. Vise Technologies Inc. now owns 7,547 shares of the semiconductor company's stock valued at $476,000 after purchasing an additional 3,251 shares in the last quarter. Elequin Capital LP lifted its stake in Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 274 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Onsemi by 9.4% in the 4th quarter. Vident Advisory LLC now owns 44,026 shares of the semiconductor company's stock worth $2,776,000 after purchasing an additional 3,794 shares in the last quarter. Finally, Vivaldi Capital Management LP bought a new position in shares of Onsemi during the 4th quarter valued at about $9,071,000. 97.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ON shares. Jefferies Financial Group lowered their price objective on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating for the company in a report on Monday, February 10th. Morgan Stanley began coverage on shares of Onsemi in a research report on Monday, May 12th. They set an "equal weight" rating and a $39.00 price target for the company. Loop Capital lowered their target price on Onsemi from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Benchmark reduced their price target on Onsemi from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Truist Financial lowered their price objective on Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a research report on Tuesday, February 11th. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.12.

Onsemi Stock Up 0.2%

Shares of Onsemi stock traded up $0.09 during trading on Thursday, hitting $42.94. 4,834,256 shares of the stock traded hands, compared to its average volume of 7,792,999. 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 stock's fifty day simple moving average is $39.70 and its 200 day simple moving average is $51.54. The firm has a market cap of $17.94 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08.

Onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the prior year, the business earned $1.08 EPS. The firm's quarterly revenue was down 22.4% on a year-over-year basis. On average, equities analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Onsemi 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.