Swiss National Bank Decreases Stock Holdings in Onsemi (NASDAQ:ON)

Swiss National Bank lowered its stake in Onsemi (NASDAQ:ON) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,210,100 shares of the semiconductor company’s stock after selling 66,900 shares during the period. Swiss National Bank’s holdings in Onsemi were worth $76,297,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted 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 worth $767,646,000 after buying an additional 309,445 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 35.0% during 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 during the period. Charles Schwab Investment Management Inc. increased its position in shares of Onsemi by 3.5% during 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 acquiring an additional 83,665 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Onsemi by 19.4% in 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 purchasing an additional 326,734 shares during the period. Finally, Natixis Advisors LLC lifted its stake in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Roth Mkm lowered their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. KeyCorp reduced their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Susquehanna decreased their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company dropped their target price on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, B. Riley cut their price target on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.85.

Onsemi Stock Up 2.5 %

ON opened at $43.19 on Friday. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08. The business has a 50-day moving average of $51.59 and a two-hundred day moving average of $63.20. 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 stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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%. On average, research analysts expect 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.