Ossiam Increases Holdings in Onsemi (NASDAQ:ON)

Ossiam boosted its position in shares of Onsemi (NASDAQ:ON - Free Report) by 248.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,835 shares of the semiconductor company's stock after purchasing an additional 106,851 shares during the period. Ossiam's holdings in Onsemi were worth $9,447,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. grew its holdings in shares of Onsemi by 67.9% during 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 acquired a new stake in shares of Onsemi during the third quarter valued at about $1,087,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Onsemi in the 3rd quarter worth approximately $389,000. Nordea Investment Management AB boosted its position in shares of Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock worth $25,724,000 after purchasing an additional 82,614 shares during the period. Finally, Fulton Bank N.A. raised its position in Onsemi by 61.0% in the fourth quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company's stock valued at $293,000 after purchasing an additional 1,758 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 equities research analysts have recently weighed in on ON shares. JPMorgan Chase & Co. dropped their price objective on Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. B. Riley lowered shares of Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price target on the stock. in a research note on Thursday. 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 note on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on shares of Onsemi from $80.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Finally, Susquehanna reduced their target price on shares of Onsemi from $70.00 to $60.00 and set a "positive" rating on the stock in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $62.24.

Onsemi Stock Performance

NASDAQ:ON traded up $3.00 during mid-day trading on Thursday, reaching $39.62. 7,637,003 shares of the stock were exchanged, compared to its average volume of 7,511,224. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08. The company has a 50 day simple moving average of $42.36 and a 200-day simple moving average of $56.49. The stock has a market capitalization of $16.72 billion, a P/E ratio of 10.91, a P/E/G ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON - Get Free Report) last released 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 net margin of 22.21% and a return on equity of 20.10%. Analysts anticipate that Onsemi will post 2.6 earnings per share 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.