Neuberger Berman Group LLC Sells 75,154 Shares of Onsemi (NASDAQ:ON)

Neuberger Berman Group LLC lessened its stake in Onsemi (NASDAQ:ON) by 7.7% in the fourth quarter, HoldingsChannel reports. The firm owned 896,666 shares of the semiconductor company’s stock after selling 75,154 shares during the period. Neuberger Berman Group LLC’s holdings in Onsemi were worth $56,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised 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 valued at $25,724,000 after buying an additional 82,614 shares during the period. Blue Trust Inc. boosted its stake in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after buying an additional 1,119 shares during the last quarter. Oak Thistle LLC bought a new stake in Onsemi during the 4th quarter valued at $515,000. Deltec Asset Management LLC purchased a new stake in shares of Onsemi in the fourth quarter worth $6,343,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Onsemi by 18.7% during the third quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock valued at $14,116,000 after buying an additional 30,695 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ON. B. Riley decreased their price objective on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of Onsemi in a research report on Monday, March 3rd. UBS Group decreased their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group dropped their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Susquehanna reduced their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.92.

Onsemi Trading Up 22.7 %

NASDAQ ON opened at $39.20 on Thursday. 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’s fifty day simple moving average is $45.40 and its 200-day simple moving average is $58.92. The stock has a market cap of $16.54 billion, a P/E ratio of 10.80, a PEG ratio of 16.74 and a beta of 1.48. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08.

Onsemi (NASDAQ:ON) last issued its quarterly 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 20.10% and a net margin of 22.21%. Equities research analysts predict that Onsemi will post 2.6 EPS 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.