Kentucky Retirement Systems Lowers Stake in Onsemi (NASDAQ:ON)

Kentucky Retirement Systems reduced its stake in shares of Onsemi (NASDAQ:ON) by 1.4% in the fourth quarter, Holdings Channel reports. The firm owned 29,436 shares of the semiconductor company’s stock after selling 406 shares during the period. Kentucky Retirement Systems’ holdings in Onsemi were worth $1,856,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after acquiring an additional 82,614 shares during the period. Natixis Advisors LLC lifted its stake in Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares during the period. Cinctive Capital Management LP purchased a new stake in Onsemi in the third quarter worth about $1,270,000. Blue Trust Inc. lifted its stake in Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 1,119 shares during the period. Finally, Oak Thistle LLC purchased a new stake in Onsemi in the fourth quarter worth about $515,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $54.05 on Friday. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. The company’s 50 day moving average is $57.39 and its 200 day moving average is $66.11. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company has a market cap of $22.78 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 16.74 and a beta of 1.61.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results 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%. On average, sell-side analysts forecast that Onsemi will post 2.6 EPS for the current year.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC lowered their price objective on shares of Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Roth Mkm reduced their target price on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Robert W. Baird boosted their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Benchmark reduced their target price on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, Morgan Stanley reduced their target price on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Two 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, the stock has an average rating of “Moderate Buy” and an average price target of $68.16.

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.