USS Investment Management Ltd Sells 22,063 Shares of Onsemi (NASDAQ:ON)

USS Investment Management Ltd cut its stake in shares of Onsemi (NASDAQ:ON) by 21.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,966 shares of the semiconductor company’s stock after selling 22,063 shares during the period. USS Investment Management Ltd’s holdings in Onsemi were worth $5,042,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ON. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi during the 4th quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Onsemi during the 4th quarter valued at $43,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at $51,000. Plato Investment Management Ltd purchased a new stake in shares of Onsemi during the 4th quarter valued at $51,000. Finally, Rakuten Securities Inc. increased its position in shares of Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 691 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ON has been the subject of several research analyst reports. Mizuho decreased their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Stifel Nicolaus decreased their target price on Onsemi from $52.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company decreased their target price on Onsemi from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Roth Capital set a $60.00 price objective on Onsemi in a report on Friday, March 7th. Finally, KeyCorp decreased their price objective on Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.12.

Onsemi Stock Performance

Shares of ON opened at $42.29 on Friday. The company has a market cap of $17.67 billion, a PE ratio of 11.65, a price-to-earnings-growth 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. The stock has a 50-day moving average price of $39.80 and a 200-day moving average price of $52.34. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08.

Onsemi (NASDAQ:ON) last issued 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. The firm had revenue of $1.45 billion during 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 company’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. As a group, equities analysts forecast that Onsemi will post 2.6 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.