Massachusetts Financial Services Co. MA Sells 6,493 Shares of Onsemi (NASDAQ:ON)

Massachusetts Financial Services Co. MA lowered its stake in Onsemi (NASDAQ:ON) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,002,687 shares of the semiconductor company’s stock after selling 6,493 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.47% of Onsemi worth $126,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Onsemi by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after buying an additional 344,354 shares during the period. Geode Capital Management LLC boosted its stake in shares of Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after acquiring an additional 309,445 shares during the period. Norges Bank purchased a new stake in shares of Onsemi during the fourth quarter worth about $378,312,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $156,884,000 after purchasing an additional 83,665 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ON. Benchmark reduced their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price target on shares of Onsemi in a research note on Monday, March 3rd. Stifel Nicolaus cut their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Mizuho cut their price target on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.50.

Onsemi Trading Down 5.2 %

NASDAQ ON opened at $33.70 on Friday. The stock has a market cap of $14.20 billion, a PE ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48. Onsemi has a 12 month low of $33.21 and a 12 month high of $80.08. The company’s 50-day moving average price is $47.20 and its 200-day moving average price is $60.15. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last issued its earnings results 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%. Equities research analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

About Onsemi

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.