138,300 Shares in Onsemi (NASDAQ:ON) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Onsemi (NASDAQ:ON - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 138,300 shares of the semiconductor company's stock, valued at approximately $8,720,000.

Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in Onsemi during the 4th quarter worth approximately $41,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi during the third quarter valued at approximately $43,000. Synergy Asset Management LLC bought a new position in shares of Onsemi in the fourth quarter worth approximately $51,000. Plato Investment Management Ltd purchased a new position in shares of Onsemi in the fourth quarter worth $51,000. Finally, Rakuten Securities Inc. raised 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 during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. B. Riley cut their price target on shares of Onsemi from $90.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Benchmark cut their target price on Onsemi from $90.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Susquehanna lowered 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. Roth Mkm cut their price objective on Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup reduced their target price on Onsemi from $77.00 to $52.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.50.

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Onsemi Stock Down 6.4 %

Onsemi stock traded down $2.82 during mid-day trading on Friday, reaching $40.94. The stock had a trading volume of 10,437,180 shares, compared to its average volume of 7,105,548. Onsemi has a one year low of $40.63 and a one year high of $80.08. The company has a 50-day moving average price of $48.92 and a two-hundred day moving average price of $61.25. The company has a market capitalization of $17.25 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON - Get Free Report) last issued 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%. On average, analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

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.