Onsemi (NASDAQ:ON) Stake Boosted by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado boosted its stake in Onsemi (NASDAQ:ON - Free Report) by 608.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 309,573 shares of the semiconductor company's stock after acquiring an additional 265,857 shares during the period. Public Employees Retirement Association of Colorado owned about 0.07% of Onsemi worth $19,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ON. Westside Investment Management Inc. raised its stake in shares of Onsemi by 67.9% during the 3rd quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company's stock worth $68,000 after buying an additional 380 shares in the last quarter. World Investment Advisors LLC purchased a new position in Onsemi in the 3rd quarter valued at approximately $1,087,000. Wilmington Savings Fund Society FSB purchased a new position in Onsemi in the 3rd quarter valued at approximately $389,000. Nordea Investment Management AB increased its stake in Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock valued at $25,724,000 after purchasing an additional 82,614 shares in the last quarter. Finally, Fulton Bank N.A. increased its stake in Onsemi by 61.0% in the 4th quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company's stock valued at $293,000 after purchasing an additional 1,758 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ON. Stifel Nicolaus dropped their price objective on Onsemi from $52.00 to $42.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Susquehanna lowered their target price on Onsemi from $70.00 to $60.00 and set a "positive" rating on the stock in a report on Tuesday, February 11th. Mizuho lowered their target price on Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Craig Hallum decreased their price objective on Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday, February 11th. Finally, Jefferies Financial Group decreased their price objective on Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Onsemi presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.24.

Onsemi Stock Down 0.3 %

NASDAQ ON traded down $0.10 on Thursday, reaching $39.60. The company had a trading volume of 10,199,682 shares, compared to its average volume of 7,453,705. The firm has a market capitalization of $16.71 billion, a PE ratio of 10.91, a P/E/G ratio of 16.74 and a beta of 1.48. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08. The firm has a 50-day moving average of $40.94 and a 200-day moving average of $55.42. 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 released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts' consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, equities research analysts anticipate 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.