Easterly Investment Partners LLC Buys Shares of 68,758 Onsemi (NASDAQ:ON)

Easterly Investment Partners LLC purchased a new position in shares of Onsemi (NASDAQ:ON - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,758 shares of the semiconductor company's stock, valued at approximately $4,335,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi in the 4th quarter valued at approximately $41,000. Safe Harbor Fiduciary LLC acquired a new position in Onsemi during the third quarter valued at approximately $43,000. Synergy Asset Management LLC bought a new stake in Onsemi during the fourth quarter worth $51,000. Plato Investment Management Ltd bought a new stake in Onsemi during the fourth quarter worth $51,000. Finally, Rakuten Securities Inc. increased its stake in shares of Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 97.70% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ON. Roth Mkm reduced their price objective on Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Craig Hallum dropped their target price on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus decreased their price target on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on shares of Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Finally, Needham & Company LLC restated a "buy" rating and issued a $57.00 target price on shares of Onsemi in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.50.

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Onsemi Stock Down 6.4 %

Onsemi stock traded down $2.82 during midday trading on Friday, hitting $40.94. 10,437,180 shares of the stock were exchanged, compared to its average volume of 7,105,551. 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 stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a 52-week low of $40.62 and a 52-week high of $80.08. The business's 50-day moving average price is $48.92 and its 200-day moving average price is $61.25.

Onsemi (NASDAQ:ON - Get Free Report) last released 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 net margin of 22.21% and a return on equity of 20.10%. On average, research analysts expect that Onsemi will post 2.6 EPS for the current fiscal 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.