Fifth Third Bancorp Has $4.68 Million Position in Onsemi (NASDAQ:ON)

Fifth Third Bancorp trimmed its position in shares of Onsemi (NASDAQ:ON) by 13.4% during the fourth quarter, HoldingsChannel reports. The firm owned 74,194 shares of the semiconductor company’s stock after selling 11,504 shares during the quarter. Fifth Third Bancorp’s holdings in Onsemi were worth $4,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares during the period. Van ECK Associates Corp lifted its position in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Onsemi by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after purchasing an additional 31,889 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after purchasing an additional 326,734 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

NASDAQ ON opened at $54.50 on Monday. Onsemi has a 52-week low of $53.10 and a 52-week high of $85.16. The stock has a market cap of $23.21 billion, a PE ratio of 13.52, a P/E/G ratio of 10.62 and a beta of 1.64. The firm has a 50-day moving average of $64.00 and a 200-day moving average of $69.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, sell-side analysts anticipate that Onsemi will post 4 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ON. The Goldman Sachs Group reduced their price objective on Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. KeyCorp cut their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley boosted their price target on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average price target of $81.70.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

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.