Alliancebernstein L.P. Has $45.15 Million Stock Position in Onsemi (NASDAQ:ON)

Alliancebernstein L.P. cut its stake in shares of Onsemi (NASDAQ:ON) by 32.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 716,053 shares of the semiconductor company’s stock after selling 344,611 shares during the period. Alliancebernstein L.P. owned 0.17% of Onsemi worth $45,147,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ON. Newbridge Financial Services Group Inc. bought a new stake in Onsemi in the 4th quarter valued at about $41,000. Synergy Asset Management LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at approximately $51,000. Plato Investment Management Ltd acquired a new stake in shares of Onsemi in the fourth quarter valued at approximately $51,000. Rakuten Securities Inc. boosted its stake in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 691 shares during the period. Finally, Westside Investment Management Inc. grew its position in Onsemi by 67.9% during the third quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company’s stock worth $68,000 after buying an additional 380 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ON shares. The Goldman Sachs Group dropped their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Mizuho cut their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Needham & Company LLC reissued a “buy” rating and issued a $57.00 target price on shares of Onsemi in a report on Monday, March 3rd. Morgan Stanley cut their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Finally, Benchmark decreased their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Performance

NASDAQ ON opened at $33.70 on Friday. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a twelve month low of $33.21 and a twelve month high of $80.08. The stock has a fifty day simple moving average of $47.20 and a 200 day simple moving average of $60.07.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results 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%. Sell-side analysts expect that Onsemi will post 2.6 EPS for the current year.

Onsemi 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.