Principal Financial Group Inc. Sells 10,395 Shares of Onsemi (NASDAQ:ON)

Principal Financial Group Inc. decreased its holdings in Onsemi (NASDAQ:ON) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,540 shares of the semiconductor company’s stock after selling 10,395 shares during the period. Principal Financial Group Inc. owned about 0.11% of Onsemi worth $30,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ON. Geode Capital Management LLC grew its holdings in shares of Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after acquiring an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares during the period. Van ECK Associates Corp grew its holdings in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after acquiring an additional 729,081 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Onsemi by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after acquiring an additional 31,889 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Onsemi by 19.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after acquiring an additional 326,734 shares during the period. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

NASDAQ:ON opened at $54.05 on Friday. 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 capitalization of $22.78 billion, a P/E ratio of 14.89, a P/E/G ratio of 16.74 and a beta of 1.61. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16. The business’s 50-day moving average is $57.39 and its 200 day moving average is $66.11.

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

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Stifel Nicolaus cut their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Citigroup cut their price objective on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Jefferies Financial Group lowered their target price on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Morgan Stanley lowered their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 11th. Finally, KeyCorp lowered their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.16.

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.