Onsemi (NASDAQ:ON) Shares Sold by Point72 Italy S.r.l.

Point72 Italy S.r.l. decreased its holdings in Onsemi (NASDAQ:ON) by 56.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,543 shares of the semiconductor company’s stock after selling 19,157 shares during the quarter. Onsemi accounts for approximately 0.5% of Point72 Italy S.r.l.’s investment portfolio, making the stock its 27th largest holding. Point72 Italy S.r.l.’s holdings in Onsemi were worth $917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Onsemi during the 4th quarter worth $378,312,000. Janus Henderson Group PLC boosted its holdings in Onsemi by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Onsemi during the 4th quarter worth approximately $62,426,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Onsemi by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after purchasing an additional 771,610 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $45.20 on Thursday. The firm’s 50 day moving average is $39.72 and its two-hundred day moving average is $53.50. The firm has a market capitalization of $18.89 billion, a P/E ratio of 12.45, a PEG 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 52 week low of $31.04 and a 52 week high of $80.08.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. Analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Susquehanna decreased their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Benchmark reduced their price target on shares of Onsemi from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley assumed coverage on Onsemi in a research note on Monday. They issued an “equal weight” rating and a $39.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $54.12.

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.