Onsemi (NASDAQ:ON) Stock Position Cut by AIA Group Ltd

AIA Group Ltd decreased its stake in shares of Onsemi (NASDAQ:ON) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,656 shares of the semiconductor company’s stock after selling 864 shares during the period. AIA Group Ltd’s holdings in Onsemi were worth $1,555,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brandywine Global Investment Management LLC lifted its holdings in shares of Onsemi by 12.4% during the fourth quarter. Brandywine Global Investment Management LLC now owns 1,319,560 shares of the semiconductor company’s stock valued at $83,198,000 after purchasing an additional 145,378 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Onsemi by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 22,369 shares of the semiconductor company’s stock valued at $1,304,000 after buying an additional 378 shares in the last quarter. Allstate Corp acquired a new position in shares of Onsemi in the fourth quarter worth about $800,000. Heartland Advisors Inc. increased its position in shares of Onsemi by 129.8% in the fourth quarter. Heartland Advisors Inc. now owns 219,972 shares of the semiconductor company’s stock worth $13,869,000 after acquiring an additional 124,252 shares in the last quarter. Finally, DnB Asset Management AS raised its holdings in shares of Onsemi by 57.5% during the fourth quarter. DnB Asset Management AS now owns 535,262 shares of the semiconductor company’s stock valued at $33,748,000 after acquiring an additional 195,367 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Down 0.6 %

Onsemi stock opened at $40.69 on Tuesday. 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 has a fifty-two week low of $39.36 and a fifty-two week high of $80.08. The firm has a fifty day moving average price of $48.64 and a two-hundred day moving average price of $60.94. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. As a group, analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

ON has been the topic of several research analyst reports. Citigroup lowered their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Roth Mkm dropped their price target on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company decreased their price objective on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley dropped their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. Finally, Susquehanna decreased their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $66.50.

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.