Bank of New York Mellon Corp Reduces Stake in Onsemi (NASDAQ:ON)

Bank of New York Mellon Corp decreased its stake in Onsemi (NASDAQ:ON) by 43.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,940,600 shares of the semiconductor company’s stock after selling 2,295,894 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of Onsemi worth $185,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after buying an additional 18,450 shares in the last quarter. Cinctive Capital Management LP bought a new position in Onsemi during the third quarter valued at approximately $1,270,000. Blue Trust Inc. grew its holdings in Onsemi by 16.1% during the 4th 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 in the last quarter. Finally, Oak Thistle LLC bought a new stake in Onsemi in the 4th quarter worth approximately $515,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Down 6.3 %

Shares of Onsemi stock opened at $47.38 on Friday. 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 cap of $19.97 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 16.74 and a beta of 1.62. The firm’s 50-day moving average is $56.17 and its two-hundred day moving average is $65.60. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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%. As a group, research analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ON shares. B. Riley cut their target price 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. Mizuho dropped their price objective on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Roth Mkm decreased their target price on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Loop Capital initiated coverage on Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target for the company. Finally, Rosenblatt Securities restated a “neutral” rating and set a $49.00 price objective on shares of Onsemi in a research report on Thursday. Two 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.12.

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.