Alliancebernstein L.P. Sells 344,611 Shares of Onsemi (NASDAQ:ON)

Alliancebernstein L.P. decreased its holdings in shares of Onsemi (NASDAQ:ON) by 32.5% during the 4th quarter, Holdings Channel reports. The firm owned 716,053 shares of the semiconductor company’s stock after selling 344,611 shares during the quarter. Alliancebernstein L.P.’s holdings in Onsemi were worth $45,147,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Brandywine Global Investment Management LLC grew its holdings in Onsemi by 12.4% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,319,560 shares of the semiconductor company’s stock worth $83,198,000 after purchasing an additional 145,378 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Onsemi by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 22,369 shares of the semiconductor company’s stock valued at $1,304,000 after buying an additional 378 shares during the period. Allstate Corp bought a new stake in Onsemi in the 4th quarter valued at about $800,000. Heartland Advisors Inc. raised its stake in Onsemi by 129.8% during the 4th quarter. Heartland Advisors Inc. now owns 219,972 shares of the semiconductor company’s stock worth $13,869,000 after buying an additional 124,252 shares during the period. Finally, DnB Asset Management AS boosted its holdings in Onsemi by 57.5% in the fourth quarter. DnB Asset Management AS now owns 535,262 shares of the semiconductor company’s stock worth $33,748,000 after acquiring an additional 195,367 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Down 5.2 %

NASDAQ:ON opened at $33.70 on Friday. The firm’s 50 day moving average is $47.20 and its 200 day moving average is $60.07. Onsemi has a 12 month low of $33.21 and a 12 month high of $80.08. The stock has a market capitalization of $14.20 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. 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 quarterly 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 net margin of 22.21% and a return on equity of 20.10%. Sell-side analysts expect that Onsemi will post 2.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ON. Roth Mkm decreased their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Truist Financial decreased their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $57.00 target price on shares of Onsemi in a report on Monday, March 3rd. Finally, Susquehanna cut their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Company 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.