Schroder Investment Management Group Decreases Stock Position in Onsemi (NASDAQ:ON)

Schroder Investment Management Group trimmed its holdings in Onsemi (NASDAQ:ON) by 95.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,563,167 shares of the semiconductor company’s stock after selling 32,432,714 shares during the period. Schroder Investment Management Group owned 0.37% of Onsemi worth $99,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 344,354 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 309,445 shares in the last quarter. Norges Bank acquired a new stake in shares of Onsemi during the 4th quarter worth about $378,312,000. Allspring Global Investments Holdings LLC grew its holdings 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 buying an additional 1,037,624 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Onsemi by 3.5% in the fourth 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 last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ON has been the topic of a number of analyst reports. B. Riley decreased their target price on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. UBS Group reduced their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $57.00 target price on shares of Onsemi in a research report on Monday, March 3rd. Finally, Mizuho dropped their price target on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.50.

Onsemi Stock Down 6.4 %

Shares of Onsemi stock opened at $40.94 on Monday. Onsemi has a 1-year low of $40.57 and a 1-year high of $80.08. The company has a market capitalization of $17.25 billion, a PE ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59. 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 business has a 50-day moving average of $48.92 and a 200-day moving average of $61.14.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data 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 net margin of 22.21% and a return on equity of 20.10%. As a group, equities analysts forecast 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.