State of Michigan Retirement System Sells 1,200 Shares of Onsemi (NASDAQ:ON)

State of Michigan Retirement System cut its holdings in shares of Onsemi (NASDAQ:ON) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 138,636 shares of the semiconductor company’s stock after selling 1,200 shares during the period. State of Michigan Retirement System’s holdings in Onsemi were worth $8,741,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi in the third quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in Onsemi in the third quarter valued at approximately $33,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi during the 4th quarter worth approximately $41,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Onsemi during the 3rd quarter worth approximately $43,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Onsemi in the 4th quarter valued at approximately $51,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Up 4.5 %

NASDAQ ON opened at $46.49 on Thursday. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company has a market cap of $19.59 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 16.74 and a beta of 1.59. The company has a 50 day moving average of $54.89 and a 200-day moving average of $64.91. Onsemi has a 1-year low of $43.94 and a 1-year high of $85.16.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. On average, equities research analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ON shares. Jefferies Financial Group lowered their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Mizuho lowered their price objective on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Susquehanna dropped their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Craig Hallum reduced their price target on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.12.

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.