Onsemi (NASDAQ:ON) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Onsemi (NASDAQ:ON) by 67.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 684,778 shares of the semiconductor company’s stock after selling 1,418,391 shares during the period. California Public Employees Retirement System owned 0.16% of Onsemi worth $43,175,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi during the 4th quarter valued at approximately $41,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Onsemi during the third quarter worth $43,000. Synergy Asset Management LLC bought a new position in shares of Onsemi in the 4th quarter worth about $51,000. Plato Investment Management Ltd acquired a new position in shares of Onsemi in the 4th quarter valued at about $51,000. Finally, Rakuten Securities Inc. grew its position in shares of Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 691 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group cut their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group reduced their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. Mizuho reduced their price target on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Finally, B. Riley dropped their price objective on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Trading Up 1.4 %

Onsemi stock opened at $40.76 on Thursday. Onsemi has a 1 year low of $39.10 and a 1 year high of $80.08. The firm’s 50 day moving average price is $48.03 and its two-hundred day moving average price is $60.58. The firm has a market cap of $17.18 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last announced 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 return on equity of 20.10% and a net margin of 22.21%. On average, research analysts predict that Onsemi will post 2.6 EPS for the current fiscal 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.