Onsemi (NASDAQ:ON) Holdings Lifted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in shares of Onsemi (NASDAQ:ON) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,552 shares of the semiconductor company’s stock after buying an additional 628 shares during the period. Maryland State Retirement & Pension System’s holdings in Onsemi were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Onsemi by 26.0% in the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after purchasing an additional 1,200,723 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Onsemi by 55.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock valued at $195,124,000 after buying an additional 828,944 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Onsemi by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock worth $397,108,000 after buying an additional 817,237 shares during the last quarter. Van ECK Associates Corp raised its position in Onsemi by 20.3% during the fourth quarter. Van ECK Associates Corp now owns 2,040,468 shares of the semiconductor company’s stock valued at $170,441,000 after acquiring an additional 344,970 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Onsemi in the third quarter worth approximately $28,927,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ON has been the topic of several research analyst reports. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Benchmark dropped their target price on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. BNP Paribas restated an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research report on Friday, April 19th. JPMorgan Chase & Co. cut their price objective on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus decreased their price objective on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $90.24.

Onsemi Stock Performance

NASDAQ:ON traded down $1.06 during mid-day trading on Wednesday, hitting $69.73. 641,737 shares of the stock were exchanged, compared to its average volume of 7,447,329. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The firm’s 50-day simple moving average is $72.07 and its 200 day simple moving average is $74.32. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The stock has a market capitalization of $30.00 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 3.18 and a beta of 1.78.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. As a group, equities analysts anticipate that Onsemi will post 3.86 EPS for the current fiscal year.

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.