Heartland Advisors Inc. Boosts Stake in Onsemi (NASDAQ:ON)

Heartland Advisors Inc. raised its position in Onsemi (NASDAQ:ON - Free Report) by 129.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 219,972 shares of the semiconductor company's stock after acquiring an additional 124,252 shares during the quarter. Heartland Advisors Inc. owned approximately 0.05% of Onsemi worth $13,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Onsemi during the fourth quarter worth $41,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Onsemi in the third quarter worth about $43,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi in the fourth quarter worth about $51,000. Plato Investment Management Ltd bought a new position in Onsemi during the fourth quarter valued at approximately $51,000. Finally, Rakuten Securities Inc. grew its holdings in Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock valued at $54,000 after buying an additional 691 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ON. KeyCorp decreased their price objective on Onsemi from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 14th. Roth Mkm lowered their price objective on shares of Onsemi from $100.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC reissued a "buy" rating and issued a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. Craig Hallum decreased their target price on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a research report on Tuesday, February 11th. Finally, Susquehanna dropped their price target on Onsemi from $70.00 to $60.00 and set a "positive" rating for the company in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $66.50.

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Onsemi Price Performance

Shares of ON stock traded down $0.25 during trading hours on Monday, reaching $40.69. The company had a trading volume of 8,789,975 shares, compared to its average volume of 7,113,001. Onsemi has a 12-month low of $39.37 and a 12-month high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 16.74 and a beta of 1.59. The stock has a fifty day moving average of $48.92 and a 200-day moving average of $61.14.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. On average, equities analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

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.