Polymer Capital Management HK LTD Purchases New Stake in Onsemi (NASDAQ:ON)

Polymer Capital Management HK LTD bought a new position in shares of Onsemi (NASDAQ:ON - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 34,000 shares of the semiconductor company's stock, valued at approximately $2,144,000.

A number of other institutional investors have also added to or reduced their stakes in ON. Public Sector Pension Investment Board lifted its position in Onsemi by 8.9% during the third quarter. Public Sector Pension Investment Board now owns 18,409 shares of the semiconductor company's stock valued at $1,337,000 after purchasing an additional 1,500 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Onsemi by 4.7% during the 3rd quarter. HighTower Advisors LLC now owns 49,683 shares of the semiconductor company's stock worth $3,601,000 after acquiring an additional 2,229 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Onsemi by 19.7% in the third quarter. Integrated Wealth Concepts LLC now owns 4,548 shares of the semiconductor company's stock worth $330,000 after acquiring an additional 750 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Onsemi by 2.3% in the third quarter. Royal London Asset Management Ltd. now owns 167,578 shares of the semiconductor company's stock valued at $12,168,000 after acquiring an additional 3,781 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Onsemi by 3.7% during the third quarter. Quantinno Capital Management LP now owns 56,322 shares of the semiconductor company's stock valued at $4,090,000 after purchasing an additional 2,028 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ON. Roth Capital set a $60.00 target price on Onsemi in a research note on Friday, March 7th. KeyCorp cut their price objective on shares of Onsemi from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Tuesday. Susquehanna decreased their target price 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. Truist Financial lowered their price target on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a research note on Tuesday, February 11th. Finally, Morgan Stanley reduced their price objective on Onsemi from $52.00 to $44.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $65.92.

Onsemi Price Performance

Onsemi stock traded down $0.66 during mid-day trading on Friday, hitting $34.22. 11,066,497 shares of the company were exchanged, compared to its average volume of 7,427,467. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a market capitalization of $14.44 billion, a P/E ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48. The business's 50 day simple moving average is $45.10 and its two-hundred day simple moving average is $58.67. 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 announced its quarterly earnings data 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 net margin of 22.21% and a return on equity of 20.10%. Analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.