Neuberger Berman Group LLC Has $56.54 Million Stock Position in Onsemi (NASDAQ:ON)

Neuberger Berman Group LLC decreased its stake in Onsemi (NASDAQ:ON) by 7.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 896,666 shares of the semiconductor company’s stock after selling 75,154 shares during the quarter. Neuberger Berman Group LLC owned 0.21% of Onsemi worth $56,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Onsemi during the 4th quarter worth about $378,312,000. Allspring Global Investments Holdings LLC boosted its position in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares during the period. Vanguard Group Inc. boosted its position in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after acquiring an additional 344,354 shares during the period. Andra AP fonden raised its stake in shares of Onsemi by 2,388.4% during the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock worth $21,651,000 after purchasing an additional 329,600 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of ON stock opened at $39.20 on Thursday. The stock’s fifty day simple moving average is $45.40 and its 200 day simple moving average is $58.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 16.74 and a beta of 1.48. Onsemi has a one year low of $31.04 and a one year high of $80.08.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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, analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ON. Jefferies Financial Group cut their price target on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Citigroup cut their price objective on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley cut their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 11th. UBS Group cut their price objective on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

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.