Onsemi (NASDAQ:ON) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in Onsemi (NASDAQ:ON) by 27.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,569,162 shares of the semiconductor company’s stock after selling 973,202 shares during the quarter. Legal & General Group Plc owned 0.60% of Onsemi worth $161,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Geode Capital Management LLC raised its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the period. Norges Bank purchased a new stake in shares of Onsemi in the 4th quarter valued at $378,312,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Onsemi by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after buying an additional 83,665 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Up 22.7 %

Shares of NASDAQ ON opened at $39.20 on Thursday. The stock has a market cap of $16.54 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The business has a 50-day moving average price of $45.40 and a 200 day moving average price of $58.92.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Equities research analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ON. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. The Goldman Sachs Group cut their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Citigroup cut their price objective on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. B. Riley cut their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Roth Mkm cut their price target on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $65.92.

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.