Deltec Asset Management LLC Invests $6.34 Million in Onsemi (NASDAQ:ON)

Deltec Asset Management LLC bought a new position in Onsemi (NASDAQ:ON - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 100,595 shares of the semiconductor company's stock, valued at approximately $6,343,000. Onsemi makes up 1.3% of Deltec Asset Management LLC's portfolio, making the stock its 21st biggest holding.

Other large investors also recently made changes to their positions in the company. Bridgewater Associates LP lifted its stake in shares of Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company's stock valued at $81,544,000 after purchasing an additional 1,109,778 shares during the period. Van ECK Associates Corp increased its holdings in Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company's stock worth $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company's stock valued at $215,518,000 after acquiring an additional 380,471 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Onsemi by 19.4% during 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 purchasing an additional 326,734 shares during the last quarter. Finally, Geode Capital Management LLC increased its position 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 valued at $767,646,000 after acquiring an additional 309,445 shares during the last quarter. Institutional investors own 97.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Loop Capital started coverage on Onsemi in a research note on Monday, November 11th. They issued a "buy" rating and a $95.00 price target for the company. The Goldman Sachs Group lowered their target price on shares of Onsemi from $92.00 to $77.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Benchmark reissued a "buy" rating and issued a $90.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. StockNews.com raised shares of Onsemi from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, B. Riley reduced their price target on Onsemi from $100.00 to $90.00 and set a "buy" rating for the company in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.50.

Onsemi Price Performance

Shares of NASDAQ ON traded up $0.47 during mid-day trading on Thursday, reaching $52.19. The company had a trading volume of 6,109,698 shares, compared to its average volume of 8,665,607. Onsemi has a one year low of $49.80 and a one year high of $85.16. The business's 50-day simple moving average is $61.35 and its 200 day simple moving average is $67.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 10.02 and a beta of 1.62.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company's stock.

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.