M&T Bank Corp Sells 2,797 Shares of Onsemi (NASDAQ:ON)

M&T Bank Corp cut its holdings in shares of Onsemi (NASDAQ:ON) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,722 shares of the semiconductor company’s stock after selling 2,797 shares during the period. M&T Bank Corp’s holdings in Onsemi were worth $1,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bridgewater Associates LP raised its stake in shares of Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after acquiring an additional 1,109,778 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after purchasing an additional 326,734 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares in the last quarter. Finally, Robeco Schweiz AG increased its stake in shares of Onsemi by 16.8% in the 4th quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock valued at $77,804,000 after buying an additional 177,740 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Price Performance

Shares of NASDAQ ON opened at $45.40 on Monday. The company has a fifty day moving average price of $53.59 and a 200 day moving average price of $64.25. Onsemi has a 1-year low of $43.33 and a 1-year high of $82.65. The firm has a market cap of $19.13 billion, a PE ratio of 12.51, a PEG ratio of 16.74 and a beta of 1.59. 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 released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Research analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ON shares. Susquehanna cut their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research note on Tuesday, February 11th. Truist Financial cut their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price target 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. Jefferies Financial Group reduced their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $57.00 target price on shares of Onsemi in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.12.

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.