Onsemi (NASDAQ:ON) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Onsemi (NASDAQ:ON) by 43.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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’s holdings in Onsemi were worth $185,405,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ON. Sentry Investment Management LLC boosted its holdings in Onsemi by 6.7% in the fourth quarter. Sentry Investment Management LLC now owns 7,655 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 478 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Onsemi by 9.5% in the fourth quarter. IFP Advisors Inc now owns 7,814 shares of the semiconductor company’s stock worth $493,000 after buying an additional 675 shares during the last quarter. MONECO Advisors LLC grew its holdings in Onsemi by 5.4% during the fourth quarter. MONECO Advisors LLC now owns 17,266 shares of the semiconductor company’s stock worth $1,089,000 after acquiring an additional 883 shares during the period. Howard Capital Management Inc. raised its position in Onsemi by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 12,560 shares of the semiconductor company’s stock valued at $792,000 after acquiring an additional 372 shares in the last quarter. Finally, TCW Group Inc. lifted its holdings in Onsemi by 0.8% in the fourth quarter. TCW Group Inc. now owns 290,396 shares of the semiconductor company’s stock valued at $18,309,000 after acquiring an additional 2,354 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

ON has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Benchmark cut their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. The Goldman Sachs Group lowered their target price on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Citigroup cut their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Morgan Stanley lowered their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 11th. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.12.

Onsemi Stock Down 6.3 %

Shares of NASDAQ ON opened at $47.38 on Friday. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16. The company has a market capitalization of $19.97 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 16.74 and a beta of 1.62. 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 business has a 50-day moving average of $56.17 and a two-hundred day moving average of $65.60.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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 return on equity of 20.10% and a net margin of 22.21%. On average, analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.