New York State Common Retirement Fund Has $50.80 Million Stake in Onsemi (NASDAQ:ON)

New York State Common Retirement Fund trimmed its holdings in shares of Onsemi (NASDAQ:ON) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 608,116 shares of the semiconductor company’s stock after selling 94,794 shares during the quarter. New York State Common Retirement Fund’s holdings in Onsemi were worth $50,796,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ON. CWM LLC increased its position in Onsemi by 51.2% during the third quarter. CWM LLC now owns 10,646 shares of the semiconductor company’s stock worth $990,000 after buying an additional 3,606 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Onsemi by 45.3% in the third quarter. HB Wealth Management LLC now owns 3,151 shares of the semiconductor company’s stock valued at $293,000 after purchasing an additional 982 shares during the last quarter. RFG Advisory LLC grew its position in shares of Onsemi by 23.7% in the third quarter. RFG Advisory LLC now owns 3,859 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 739 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of Onsemi by 8.5% in the third quarter. DAVENPORT & Co LLC now owns 11,267 shares of the semiconductor company’s stock valued at $1,047,000 after purchasing an additional 882 shares during the last quarter. Finally, Royal Fund Management LLC acquired a new stake in shares of Onsemi in the third quarter valued at about $251,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Performance

Shares of Onsemi stock opened at $61.68 on Wednesday. The firm has a fifty day moving average of $73.93 and a two-hundred day moving average of $75.84. The stock has a market capitalization of $26.51 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 5.92 and a beta of 1.80. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS. As a group, equities research analysts predict that Onsemi will post 4.3 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ON shares. BNP Paribas reaffirmed an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research report on Friday, April 19th. Susquehanna reaffirmed a “positive” rating and issued a $90.00 price target on shares of Onsemi in a research report on Monday, April 8th. Morgan Stanley decreased their target price on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Finally, Evercore ISI began coverage on Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average target price of $95.28.

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.