CANADA LIFE ASSURANCE Co Increases Position in Onsemi (NASDAQ:ON)

CANADA LIFE ASSURANCE Co raised its holdings in Onsemi (NASDAQ:ON - Free Report) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,211 shares of the semiconductor company's stock after purchasing an additional 28,591 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.08% of Onsemi worth $20,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its stake in Onsemi by 67.9% in the 3rd quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company's stock worth $68,000 after purchasing an additional 380 shares during the period. World Investment Advisors LLC bought a new stake in shares of Onsemi during the 3rd quarter valued at about $1,087,000. Wilmington Savings Fund Society FSB purchased a new stake in Onsemi in the third quarter valued at approximately $389,000. Nordea Investment Management AB raised its position in Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock valued at $25,724,000 after purchasing an additional 82,614 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in Onsemi by 61.0% during the fourth quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company's stock valued at $293,000 after acquiring an additional 1,758 shares during the last quarter. Institutional investors own 97.70% of the company's stock.

Onsemi Price Performance

Shares of Onsemi stock traded up $3.34 during trading hours on Thursday, reaching $39.96. The company's stock had a trading volume of 13,179,393 shares, compared to its average volume of 7,530,551. The firm has a 50 day moving average price of $42.36 and a 200-day moving average price of $56.49. 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 has a one year low of $31.04 and a one year high of $80.08. The stock has a market cap of $16.87 billion, a P/E ratio of 11.01, a P/E/G ratio of 16.74 and a beta of 1.48.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ON shares. JPMorgan Chase & Co. dropped their price target on shares of Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Craig Hallum decreased their price objective 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. Citigroup reduced their price target on shares of Onsemi from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. B. Riley lowered Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 target price for the company. in a research report on Thursday. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $49.00 price objective on shares of Onsemi in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.24.

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.