Onsemi (NASDAQ:ON) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lessened its stake in Onsemi (NASDAQ:ON) by 52.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 347,991 shares of the semiconductor company’s stock after selling 378,386 shares during the period. Marshall Wace LLP owned about 0.08% of Onsemi worth $21,941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi in the fourth quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Onsemi in the 4th quarter valued at approximately $43,000. Synergy Asset Management LLC acquired a new position in shares of Onsemi in the fourth quarter worth $51,000. Plato Investment Management Ltd purchased a new stake in shares of Onsemi during the fourth quarter worth $51,000. Finally, Rakuten Securities Inc. raised its stake in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ON. B. Riley cut their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company reduced their target price on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Roth Mkm lowered their price target 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. KeyCorp reduced their price objective on shares of Onsemi from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Mizuho lowered their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.52.

Onsemi Price Performance

Shares of ON opened at $34.64 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. Onsemi has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The firm has a 50-day simple moving average of $43.28 and a 200-day simple moving average of $57.12. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last announced its 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 net margin of 22.21% and a return on equity of 20.10%. On average, equities research analysts anticipate that Onsemi will post 2.6 earnings per share for the current 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.