New York State Common Retirement Fund Sells 94,794 Shares of Onsemi (NASDAQ:ON)

New York State Common Retirement Fund reduced its position in Onsemi (NASDAQ:ON - Free Report) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 608,116 shares of the semiconductor company's stock after selling 94,794 shares during the period. New York State Common Retirement Fund owned 0.14% of Onsemi worth $50,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ON. Invesco Ltd. lifted its holdings in shares of Onsemi by 26.0% in the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company's stock valued at $540,306,000 after purchasing an additional 1,200,723 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Onsemi by 55.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company's stock valued at $195,124,000 after acquiring an additional 828,944 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Onsemi by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company's stock valued at $397,108,000 after acquiring an additional 817,237 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Onsemi during the 3rd quarter valued at approximately $28,927,000. Finally, QRG Capital Management Inc. purchased a new stake in Onsemi during the 3rd quarter valued at approximately $22,883,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ON has been the subject of several analyst reports. Susquehanna reaffirmed a "positive" rating and set a $90.00 price objective on shares of Onsemi in a research note on Monday, April 8th. Needham & Company LLC reissued a "buy" rating and set a $92.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. TD Cowen increased their target price on Onsemi from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 6th. BNP Paribas reissued an "underperform" rating and set a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Finally, KeyCorp increased their target price on Onsemi from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.28.

Onsemi Stock Up 6.2 %

NASDAQ:ON traded up $3.85 during mid-day trading on Wednesday, reaching $65.53. The stock had a trading volume of 12,808,920 shares, compared to its average volume of 7,384,299. The company has a market capitalization of $28.17 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The stock's 50 day simple moving average is $73.93 and its two-hundred day simple moving average is $75.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74.

Onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. Onsemi's quarterly revenue was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Onsemi will post 4.3 EPS for the current 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.