Truist Financial Corp Has $1.63 Million Stock Holdings in Onsemi (NASDAQ:ON)

Truist Financial Corp reduced its holdings in Onsemi (NASDAQ:ON) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,794 shares of the semiconductor company’s stock after selling 992 shares during the quarter. Truist Financial Corp’s holdings in Onsemi were worth $1,626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridgewater Associates LP grew its position in shares of Onsemi by 8,367.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after buying an additional 1,109,778 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Van ECK Associates Corp grew its position in Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Onsemi by 19.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after purchasing an additional 326,734 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Onsemi by 3.0% during the 3rd 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. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $47.38 on Friday. Onsemi has a 52-week low of $46.57 and a 52-week high of $85.16. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $56.17 and its 200-day moving average price is $65.60. The company has a market cap of $19.97 billion, a PE ratio of 13.05, a PEG ratio of 16.74 and a beta of 1.62.

Onsemi (NASDAQ:ON) last announced 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%. As a group, analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company decreased their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. KeyCorp reduced their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Truist Financial dropped their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup decreased their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.