Swedbank AB Sells 31,483 Shares of Onsemi (NASDAQ:ON)

Swedbank AB cut its stake in Onsemi (NASDAQ:ON) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649,625 shares of the semiconductor company’s stock after selling 31,483 shares during the quarter. Swedbank AB owned 0.15% of Onsemi worth $40,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in Onsemi by 25.9% during 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. Natixis Advisors LLC grew its position in Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares during the period. Cinctive Capital Management LP bought a new stake in Onsemi during the third quarter valued at approximately $1,270,000. Oak Thistle LLC bought a new stake in Onsemi during the fourth quarter valued at approximately $515,000. Finally, Public Employees Retirement System of Ohio grew its position in 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 period. 97.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. BNP Paribas lowered their price target on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Susquehanna lowered their price target on shares of Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Morgan Stanley lifted their price target on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.70.

Onsemi Stock Down 0.2 %

NASDAQ:ON opened at $53.77 on Thursday. Onsemi has a 1-year low of $52.80 and a 1-year high of $85.16. The company has a 50-day moving average of $63.22 and a 200 day moving average of $68.67. The firm has a market cap of $22.90 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 10.62 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, research analysts anticipate that Onsemi will post 4 EPS for the current fiscal year.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

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.