abrdn plc Has $9.08 Million Position in Onsemi (NASDAQ:ON)

abrdn plc lowered its holdings in shares of Onsemi (NASDAQ:ON) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,906 shares of the semiconductor company’s stock after selling 16,797 shares during the period. abrdn plc’s holdings in Onsemi were worth $9,079,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bridgewater Associates LP lifted its holdings in shares of Onsemi by 8,367.5% during the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after acquiring an additional 1,109,778 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onsemi by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after acquiring an additional 380,471 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after acquiring an additional 326,734 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

ON has been the subject of a number of analyst reports. Truist Financial reissued a “hold” rating and set a $60.00 price objective (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price target on shares of Onsemi in a report on Thursday, December 12th. Mizuho set a $85.00 price target on Onsemi in a report on Friday, October 18th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Friday. Finally, Susquehanna cut their price target on Onsemi from $80.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Onsemi Price Performance

NASDAQ ON opened at $51.25 on Friday. The business has a 50 day simple moving average of $60.60 and a 200 day simple moving average of $67.54. Onsemi has a 52-week low of $49.80 and a 52-week high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market cap of $21.82 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 10.02 and a beta of 1.61.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

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.