Machina Capital S.A.S. Acquires 9,624 Shares of Onsemi (NASDAQ:ON)

Machina Capital S.A.S. lifted its stake in Onsemi (NASDAQ:ON - Free Report) by 327.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,566 shares of the semiconductor company's stock after purchasing an additional 9,624 shares during the period. Machina Capital S.A.S.'s holdings in Onsemi were worth $792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in 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. Allspring Global Investments Holdings LLC boosted its stake in Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock valued at $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Onsemi by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company's stock valued at $156,884,000 after acquiring an additional 83,665 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Onsemi by 19.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company's stock valued at $145,887,000 after acquiring an additional 326,734 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company's stock valued at $98,169,000 after acquiring an additional 18,450 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on ON shares. Truist Financial reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research report on Tuesday, February 11th. Benchmark reduced their price target on shares of Onsemi from $90.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Susquehanna reduced their price target on shares of Onsemi from $70.00 to $60.00 and set a "positive" rating on the stock in a research report on Tuesday, February 11th. Finally, KeyCorp reduced their price target on shares of Onsemi from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Onsemi presently has a consensus rating of "Moderate Buy" and an average target price of $67.12.

Onsemi Stock Performance

Shares of Onsemi stock traded up $1.52 during trading on Friday, hitting $45.40. 10,341,635 shares of the stock were exchanged, compared to its average volume of 6,772,399. The stock has a market capitalization of $19.13 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a fifty day moving average price of $53.59 and a 200-day moving average price of $64.25. Onsemi has a 1-year low of $43.33 and a 1-year high of $82.65. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. As a group, equities analysts predict that Onsemi will post 2.6 EPS for the current fiscal 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.