Onsemi (NASDAQ:ON) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC cut its stake in Onsemi (NASDAQ:ON) by 26.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,687 shares of the semiconductor company’s stock after selling 18,999 shares during the period. Gotham Asset Management LLC’s holdings in Onsemi were worth $3,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi in the fourth quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Onsemi during the 4th quarter valued at approximately $43,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi in the 4th quarter valued at $51,000. Plato Investment Management Ltd acquired a new stake in shares of Onsemi in the fourth quarter worth $51,000. Finally, Rakuten Securities Inc. raised its holdings in shares of 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 purchasing an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ON shares. UBS Group lowered their price target on shares of Onsemi from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Loop Capital dropped their target price on Onsemi from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Robert W. Baird reduced their price target on Onsemi from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Citigroup lowered their price objective on Onsemi from $52.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Mizuho cut their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.12.

Onsemi Stock Down 1.2%

Shares of NASDAQ ON opened at $45.20 on Thursday. The stock has a market cap of $18.89 billion, a PE ratio of 12.45, a P/E/G ratio of 16.74 and a beta of 1.39. 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 12-month low of $31.04 and a 12-month high of $80.08. The company has a 50-day moving average of $39.72 and a 200 day moving average of $53.50.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s revenue was down 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

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.