California Public Employees Retirement System Has $43.18 Million Stock Holdings in Onsemi (NASDAQ:ON)

California Public Employees Retirement System reduced its holdings in Onsemi (NASDAQ:ON) by 67.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 684,778 shares of the semiconductor company’s stock after selling 1,418,391 shares during the period. California Public Employees Retirement System’s holdings in Onsemi were worth $43,175,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allstate Corp purchased a new position in shares of Onsemi during the 4th quarter valued at $800,000. Heartland Advisors Inc. grew its stake in Onsemi by 129.8% in the fourth quarter. Heartland Advisors Inc. now owns 219,972 shares of the semiconductor company’s stock valued at $13,869,000 after purchasing an additional 124,252 shares in the last quarter. DnB Asset Management AS increased its position in Onsemi by 57.5% in the 4th quarter. DnB Asset Management AS now owns 535,262 shares of the semiconductor company’s stock worth $33,748,000 after purchasing an additional 195,367 shares during the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of Onsemi during the 4th quarter worth about $8,767,000. Finally, Easterly Investment Partners LLC acquired a new stake in shares of Onsemi during the 4th quarter valued at about $4,335,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ON has been the topic of a number of research reports. Craig Hallum dropped their price objective on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley dropped their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus cut their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, Susquehanna decreased 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 issued a buy rating to the company. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Performance

ON opened at $40.76 on Thursday. The stock has a market cap of $17.18 billion, a PE ratio of 11.23, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 1 year low of $39.10 and a 1 year high of $80.08. The stock’s 50 day simple moving average is $48.03 and its 200-day simple moving average is $60.58. 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 announced 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%. Sell-side analysts forecast that Onsemi will post 2.6 EPS for the current 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.