Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Onsemi (NASDAQ:ON)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Onsemi (NASDAQ:ON) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,602 shares of the semiconductor company’s stock after selling 701 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Onsemi were worth $12,585,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after buying an additional 344,354 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Onsemi during the 4th quarter valued at approximately $279,000. KLP Kapitalforvaltning AS bought a new position in Onsemi during the fourth quarter worth $8,720,000. AXQ Capital LP acquired a new position in Onsemi in the fourth quarter worth $328,000. Finally, Quantbot Technologies LP bought a new stake in Onsemi during the fourth quarter valued at $786,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ON shares. The Goldman Sachs Group decreased their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company decreased their target price on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Roth Capital set a $60.00 price target on Onsemi in a research report on Friday, March 7th. B. Riley reduced their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Down 6.4 %

NASDAQ ON opened at $40.94 on Friday. Onsemi has a 12 month low of $40.62 and a 12 month high of $80.08. The company’s 50 day simple moving average is $48.92 and its 200 day simple moving average is $61.21. The company has a market capitalization of $17.25 billion, a P/E ratio of 11.28, a PEG ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

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 the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Equities research analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Onsemi 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.