Marshall Wace LLP Decreases Stake in Onsemi (NASDAQ:ON)

Marshall Wace LLP lowered its holdings in Onsemi (NASDAQ:ON) by 52.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 347,991 shares of the semiconductor company’s stock after selling 378,386 shares during the quarter. Marshall Wace LLP’s holdings in Onsemi were worth $21,941,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ON. NewEdge Advisors LLC grew its holdings in shares of Onsemi by 1.2% in the 4th quarter. NewEdge Advisors LLC now owns 26,552 shares of the semiconductor company’s stock worth $1,674,000 after acquiring an additional 312 shares during the period. Guggenheim Capital LLC grew its holdings in Onsemi by 1.1% in the fourth quarter. Guggenheim Capital LLC now owns 193,013 shares of the semiconductor company’s stock valued at $12,169,000 after purchasing an additional 2,159 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Onsemi by 2.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 17,696 shares of the semiconductor company’s stock valued at $1,116,000 after buying an additional 468 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Onsemi by 229.2% in the fourth quarter. Townsquare Capital LLC now owns 21,602 shares of the semiconductor company’s stock valued at $1,362,000 after buying an additional 15,041 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in Onsemi by 10.6% in the 4th quarter. Sterling Capital Management LLC now owns 89,533 shares of the semiconductor company’s stock valued at $5,645,000 after acquiring an additional 8,596 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Shares of ON stock opened at $34.64 on Friday. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a market cap of $14.62 billion, a PE ratio of 9.54, a P/E/G ratio of 16.74 and a beta of 1.48. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $43.28 and its 200-day simple moving average is $57.12.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, equities research analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on ON shares. Roth Capital set a $60.00 price target on shares of Onsemi in a research report on Friday, March 7th. Rosenblatt Securities reissued a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a report on Thursday, February 27th. Craig Hallum dropped their price objective on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Benchmark lowered their price target on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group decreased their target price on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $63.52.

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.