Onsemi (NASDAQ:ON) Stock Position Lessened by Prudential Financial Inc.

Prudential Financial Inc. reduced its stake in shares of Onsemi (NASDAQ:ON) by 17.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 240,347 shares of the semiconductor company’s stock after selling 51,026 shares during the period. Prudential Financial Inc.’s holdings in Onsemi were worth $15,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi in the third quarter worth approximately $43,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Onsemi in the 4th quarter worth $41,000. Synergy Asset Management LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at $51,000. Plato Investment Management Ltd bought a new position in Onsemi during the fourth quarter valued at about $51,000. Finally, Rakuten Securities Inc. grew its holdings in Onsemi by 434.6% during the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 691 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

ON opened at $43.76 on Friday. The stock has a fifty day moving average price of $49.20 and a 200 day moving average price of $61.45. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. Onsemi has a 1 year low of $41.59 and a 1 year high of $80.08. The stock has a market cap of $18.44 billion, a price-to-earnings ratio of 12.06, a PEG 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 for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

ON has been the subject of several research reports. Roth Capital set a $60.00 price objective on shares of Onsemi in a research report on Friday, March 7th. Benchmark reduced their target price 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. Morgan Stanley dropped their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group reduced their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. Two 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, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.