Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $5.71 Million Stock Position in Onsemi (NASDAQ:ON)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of Onsemi (NASDAQ:ON) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,537 shares of the semiconductor company’s stock after selling 2,712 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Onsemi were worth $5,708,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Onsemi by 3.0% during 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 during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Onsemi by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after buying an additional 83,665 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after buying an additional 326,734 shares during the last quarter. Finally, Robeco Schweiz AG grew its holdings in shares of Onsemi by 16.8% during the fourth quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock valued at $77,804,000 after buying an additional 177,740 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

NASDAQ ON opened at $43.78 on Friday. The company’s 50 day moving average is $50.00 and its 200-day moving average is $62.08. Onsemi has a 12-month low of $41.59 and a 12-month high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market cap of $18.45 billion, a P/E ratio of 12.06, a price-to-earnings-growth 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 net margin of 22.21% and a return on equity of 20.10%. Sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho cut their price target on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Truist Financial cut their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus cut their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Benchmark cut their price target on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Susquehanna cut their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.85.

About Onsemi

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.