Prudential Financial Inc. Cuts Stock Holdings in Onsemi (NASDAQ:ON)

Prudential Financial Inc. cut its stake in shares of Onsemi (NASDAQ:ON) by 17.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 240,347 shares of the semiconductor company’s stock after selling 51,026 shares during the period. Prudential Financial Inc. owned 0.06% of Onsemi worth $15,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ON. Newbridge Financial Services Group Inc. purchased a new position in Onsemi in the fourth quarter valued at approximately $41,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Onsemi in the third quarter worth $43,000. Synergy Asset Management LLC purchased a new position in shares of Onsemi in the 4th quarter valued at $51,000. Plato Investment Management Ltd acquired a new position in shares of Onsemi during the 4th quarter valued at $51,000. Finally, Rakuten Securities Inc. boosted its position in Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 691 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ON. Truist Financial reduced their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Roth Capital set a $60.00 price objective on shares of Onsemi in a research note on Friday, March 7th. Mizuho decreased their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Benchmark dropped their price target on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Stock Down 2.8 %

NASDAQ:ON opened at $43.76 on Friday. 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 has a 50 day moving average of $49.20 and a 200-day moving average of $61.45. The firm has a market capitalization of $18.44 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a 52 week low of $41.59 and a 52 week high of $80.08.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. Analysts predict that Onsemi will post 2.6 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.