Toronto Dominion Bank Sells 9,378 Shares of Onsemi (NASDAQ:ON)

Toronto Dominion Bank decreased its position in shares of Onsemi (NASDAQ:ON - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,450 shares of the semiconductor company's stock after selling 9,378 shares during the period. Toronto Dominion Bank's holdings in Onsemi were worth $9,990,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Onsemi in the fourth quarter valued at about $378,312,000. Janus Henderson Group PLC raised its position in shares of Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after acquiring an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock worth $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Onsemi during the fourth quarter worth about $62,426,000. Finally, Dimensional Fund Advisors LP increased its holdings in Onsemi by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after purchasing an additional 771,610 shares in the last quarter. Institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial lowered their target price on Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a report on Tuesday, February 11th. The Goldman Sachs Group cut their target price on Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Jefferies Financial Group cut their target price on Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. KeyCorp cut their price objective on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Needham & Company LLC lowered their target price on Onsemi from $57.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Twelve 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, Onsemi has an average rating of "Moderate Buy" and an average target price of $54.12.

Onsemi Price Performance

NASDAQ ON traded up $0.52 during trading on Monday, reaching $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 stock has a market capitalization of $17.78 billion, a PE ratio of 11.72, a P/E/G 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. The firm has a fifty day moving average of $39.52 and a 200 day moving average of $50.77. Onsemi has a one year low of $31.04 and a one year high of $80.08.

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