Grantham Mayo Van Otterloo & Co. LLC Trims Stake in Onsemi (NASDAQ:ON)

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in shares of Onsemi (NASDAQ:ON) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 709,652 shares of the semiconductor company’s stock after selling 34,728 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.17% of Onsemi worth $44,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Geode Capital Management LLC grew its stake in shares of Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares in the last quarter. Norges Bank purchased a new stake in shares of Onsemi in the 4th quarter valued at $378,312,000. Allspring Global Investments Holdings LLC lifted its stake 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Onsemi by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after acquiring an additional 83,665 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Down 5.2 %

ON opened at $33.70 on Friday. Onsemi has a one year low of $33.21 and a one year high of $80.08. 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 stock has a market capitalization of $14.20 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The business’s 50-day simple moving average is $47.20 and its 200-day simple moving average is $60.15.

Onsemi (NASDAQ:ON) last released 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 return on equity of 20.10% and a net margin of 22.21%. Analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Analysts Set New Price Targets

ON has been the topic of several research reports. Truist Financial reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Susquehanna reduced their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Citigroup dropped their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. Finally, Mizuho decreased 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

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.