State of New Jersey Common Pension Fund D Boosts Stake in Onsemi (NASDAQ:ON)

State of New Jersey Common Pension Fund D raised its position in shares of Onsemi (NASDAQ:ON) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,184 shares of the semiconductor company’s stock after acquiring an additional 4,339 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Onsemi worth $20,647,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ON. Provence Wealth Management Group acquired a new position in shares of Onsemi during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Onsemi during the fourth quarter worth about $32,000. Hanseatic Management Services Inc. acquired a new position in shares of Onsemi during the third quarter worth about $38,000. Headinvest LLC acquired a new position in shares of Onsemi during the third quarter worth about $44,000. Finally, First Pacific Financial acquired a new position in shares of Onsemi during the third quarter worth about $45,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

ON has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, February 6th. Morgan Stanley cut their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday. Wells Fargo & Company cut their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho cut their price target on Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus cut their price target on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $95.28.

Onsemi Price Performance

Onsemi stock traded up $0.85 during midday trading on Thursday, hitting $66.38. The company’s stock had a trading volume of 9,327,396 shares, compared to its average volume of 7,408,657. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $28.53 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 6.02 and a beta of 1.80. The stock’s 50-day moving average price is $73.60 and its 200-day moving average price is $75.77.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Onsemi will post 4.3 earnings per share 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.