Boussard & Gavaudan Investment Management LLP Takes $8.77 Million Position in Onsemi (NASDAQ:ON)

Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of Onsemi (NASDAQ:ON - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 138,152 shares of the semiconductor company's stock, valued at approximately $8,767,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Easterly Investment Partners LLC purchased a new position in shares of Onsemi during the 4th quarter worth $4,335,000. Blair William & Co. IL grew its stake in shares of Onsemi by 52.7% during the 4th quarter. Blair William & Co. IL now owns 4,239 shares of the semiconductor company's stock valued at $267,000 after acquiring an additional 1,463 shares during the period. Norges Bank purchased a new stake in Onsemi in the 4th quarter worth approximately $378,312,000. NEOS Investment Management LLC raised its stake in Onsemi by 25.0% during the 4th quarter. NEOS Investment Management LLC now owns 55,677 shares of the semiconductor company's stock worth $3,510,000 after acquiring an additional 11,120 shares during the period. Finally, UniSuper Management Pty Ltd lifted its holdings in Onsemi by 9.5% during the fourth quarter. UniSuper Management Pty Ltd now owns 95,977 shares of the semiconductor company's stock valued at $6,051,000 after purchasing an additional 8,334 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Onsemi stock traded down $0.27 during mid-day trading on Monday, hitting $40.67. The company had a trading volume of 5,451,250 shares, compared to its average volume of 7,102,000. The company has a market capitalization of $17.14 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 16.74 and a beta of 1.59. 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's fifty day moving average is $48.92 and its 200-day moving average is $61.14. Onsemi has a 12-month low of $39.37 and a 12-month high of $80.08.

Remove Ads

Onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Equities research analysts predict that Onsemi will post 2.6 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ON shares. B. Riley dropped their price objective on Onsemi from $90.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. KeyCorp lowered their target price on Onsemi from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 14th. UBS Group decreased their price target on shares of Onsemi from $72.00 to $65.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group dropped their price objective on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Morgan Stanley decreased their price target on Onsemi from $52.00 to $44.00 and set an "underweight" rating for the company in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.50.

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.