State of New Jersey Common Pension Fund D Has $9.60 Million Holdings in Onsemi (NASDAQ:ON)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Onsemi (NASDAQ:ON) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,258 shares of the semiconductor company’s stock after selling 2,996 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Onsemi were worth $9,600,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the period. Natixis Advisors LLC lifted its holdings in Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares during the period. Cinctive Capital Management LP acquired a new position in Onsemi in the third quarter valued at $1,270,000. Blue Trust Inc. lifted its holdings in Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,119 shares during the period. Finally, Oak Thistle LLC acquired a new position in Onsemi in the fourth quarter valued at $515,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Activity at Onsemi

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

Onsemi Stock Up 0.2 %

ON opened at $51.95 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 10.27 and a beta of 1.61. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. The company’s 50-day moving average price is $58.11 and its two-hundred day moving average price is $66.38.

Onsemi (NASDAQ:ON) last released its earnings results 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 23.80% and a return on equity of 22.38%. As a group, equities analysts expect that Onsemi will post 3.99 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ON. Truist Financial dropped their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. decreased 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. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Friday, February 7th. Loop Capital began coverage on shares of Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 price target for the company. Finally, BNP Paribas decreased their price target on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Onsemi has an average rating of “Moderate Buy” and a consensus target price of $68.16.

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.