Maryland State Retirement & Pension System Reduces Holdings in Onsemi (NASDAQ:ON)

Maryland State Retirement & Pension System lessened its position in shares of Onsemi (NASDAQ:ON) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,686 shares of the semiconductor company’s stock after selling 1,799 shares during the period. Maryland State Retirement & Pension System’s holdings in Onsemi were worth $1,430,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi during the 4th quarter worth about $41,000. Safe Harbor Fiduciary LLC purchased a new stake in Onsemi during the 3rd quarter worth about $43,000. Synergy Asset Management LLC purchased a new stake in Onsemi during the 4th quarter worth about $51,000. Plato Investment Management Ltd purchased a new stake in Onsemi during the 4th quarter worth about $51,000. Finally, Rakuten Securities Inc. lifted its holdings in Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley lowered their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group lowered their price target on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Benchmark lowered their price target on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Roth Capital set a $60.00 price target on Onsemi in a report on Friday, March 7th. Finally, Susquehanna lowered their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Two research 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, the company presently has an average rating of “Moderate Buy” and an average target price of $66.85.

Onsemi Price Performance

ON opened at $43.78 on Friday. The stock’s 50 day simple moving average is $50.00 and its 200 day simple moving average is $62.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 1 year low of $41.59 and a 1 year high of $80.08. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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%. As a group, analysts predict 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.