Onsemi (NASDAQ:ON) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in shares of Onsemi (NASDAQ:ON) by 31.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,966 shares of the semiconductor company’s stock after selling 97,439 shares during the quarter. Jennison Associates LLC’s holdings in Onsemi were worth $17,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Provence Wealth Management Group purchased a new stake in shares of Onsemi in the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi during the fourth quarter worth approximately $32,000. Hanseatic Management Services Inc. purchased a new stake in Onsemi in the third quarter valued at approximately $38,000. Headinvest LLC acquired a new stake in shares of Onsemi in the third quarter valued at approximately $44,000. Finally, First Pacific Financial acquired a new position in shares of Onsemi in the 3rd quarter valued at $45,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Trading Up 1.3 %

NASDAQ:ON opened at $66.38 on Friday. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $73.60 and a 200-day simple moving average of $75.77. The company has a market capitalization of $28.53 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 6.40 and a beta of 1.80.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the firm posted $1.32 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Onsemi will post 4.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Mizuho lowered their price target on Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. TD Cowen upped their price objective on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lowered their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, Morgan Stanley dropped their target price on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.28.

Onsemi Company 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.