Onsemi (NASDAQ:ON) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its holdings in Onsemi (NASDAQ:ON) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,000,623 shares of the semiconductor company’s stock after selling 41,368 shares during the quarter. Nuveen Asset Management LLC’s holdings in Onsemi were worth $63,089,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ON. Newbridge Financial Services Group Inc. acquired a new stake in Onsemi during the fourth quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Onsemi during the fourth quarter valued at approximately $43,000. Synergy Asset Management LLC acquired a new stake in Onsemi during the fourth quarter valued at approximately $51,000. Plato Investment Management Ltd acquired a new stake in Onsemi during the fourth quarter valued at approximately $51,000. Finally, Rakuten Securities Inc. raised its stake in Onsemi by 434.6% during the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 691 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ON. Susquehanna cut their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a research note on Tuesday, February 11th. Truist Financial lowered their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Loop Capital lowered their target price on Onsemi from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Mizuho lowered their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Finally, KeyCorp lowered their target price on Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.12.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $44.92 on Monday. The stock has a fifty day moving average price of $39.76 and a two-hundred day moving average price of $52.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The firm has a market cap of $18.77 billion, a P/E ratio of 12.37, a PEG ratio of 16.74 and a beta of 1.39. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. During the same period last year, the company posted $1.08 EPS. Research analysts forecast that Onsemi will post 2.6 EPS for the current fiscal 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.