NEOS Investment Management LLC raised its position in shares of Onsemi (NASDAQ:ON - Free Report) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,677 shares of the semiconductor company's stock after acquiring an additional 11,120 shares during the period. NEOS Investment Management LLC's holdings in Onsemi were worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC boosted its holdings in Onsemi by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after acquiring an additional 207 shares during the period. Assetmark Inc. lifted its position in shares of Onsemi by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock worth $4,949,000 after purchasing an additional 235 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Onsemi by 3.9% during the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock valued at $424,000 after purchasing an additional 252 shares during the period. Clear Creek Financial Management LLC grew its holdings in shares of Onsemi by 6.9% in the fourth quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company's stock worth $275,000 after purchasing an additional 282 shares during the last quarter. Finally, Savant Capital LLC increased its stake in Onsemi by 9.9% in the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company's stock worth $208,000 after buying an additional 297 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have commented on ON. KeyCorp dropped their target price on shares of Onsemi from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 14th. Mizuho dropped their price objective on Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company decreased their target price on Onsemi from $80.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their target price on Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Finally, Citigroup cut their price target 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 issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $66.50.
Read Our Latest Report on Onsemi
Onsemi Stock Performance
ON traded down $0.25 on Monday, reaching $40.69. 8,996,207 shares of the stock were exchanged, compared to its average volume of 7,113,090. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The company's 50-day moving average price is $48.92 and its 200 day moving average price is $61.14. The firm has a market capitalization of $17.15 billion, a PE ratio of 11.21, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a fifty-two week low of $39.37 and a fifty-two week high of $80.08.
Onsemi (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts' consensus estimates 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, sell-side analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.
About Onsemi
(
Free Report)
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.
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