Sawgrass Asset Management LLC Has $311,000 Stock Holdings in Onsemi (NASDAQ:ON)

Sawgrass Asset Management LLC lessened its holdings in Onsemi (NASDAQ:ON) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 4,933 shares of the semiconductor company’s stock after selling 226 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Onsemi were worth $311,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Bridgewater Associates LP boosted its holdings in shares of Onsemi by 8,367.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after acquiring an additional 1,109,778 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Onsemi by 26.4% during 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. Massachusetts Financial Services Co. MA boosted its holdings in shares of Onsemi by 19.4% during 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 acquiring an additional 326,734 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Up 1.7 %

Shares of NASDAQ:ON opened at $50.92 on Friday. 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 has a 52-week low of $46.57 and a 52-week high of $85.16. The business’s 50 day simple moving average is $59.01 and its two-hundred day simple moving average is $66.95. The firm has a market cap of $21.68 billion, a P/E ratio of 12.64, a PEG ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last issued its earnings results 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 return on equity of 22.38% and a net margin of 23.80%. As a group, research analysts forecast that Onsemi will post 3.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. B. Riley cut their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday. BNP Paribas lowered their target price on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, Needham & Company LLC lowered their target price on Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

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.