Symmetry Investments LP Makes New Investment in Onsemi (NASDAQ:ON)

Symmetry Investments LP acquired a new stake in Onsemi (NASDAQ:ON - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 126,600 shares of the semiconductor company's stock, valued at approximately $7,982,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Harvest Investment Services LLC increased its position in Onsemi by 31.8% during the fourth quarter. Harvest Investment Services LLC now owns 11,851 shares of the semiconductor company's stock worth $747,000 after purchasing an additional 2,862 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Onsemi by 12.9% during the 4th quarter. Stifel Financial Corp now owns 127,441 shares of the semiconductor company's stock valued at $8,035,000 after buying an additional 14,594 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Onsemi by 209.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 119,925 shares of the semiconductor company's stock worth $7,561,000 after buying an additional 81,181 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Onsemi by 3,005.9% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,056 shares of the semiconductor company's stock worth $67,000 after buying an additional 1,022 shares during the period. Finally, MetLife Investment Management LLC grew its position in Onsemi by 1.2% during the fourth quarter. MetLife Investment Management LLC now owns 112,681 shares of the semiconductor company's stock valued at $7,105,000 after acquiring an additional 1,286 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.

Onsemi Price Performance

Shares of ON opened at $35.45 on Wednesday. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The stock's fifty day moving average is $42.66 and its 200-day moving average is $56.63. Onsemi has a one year low of $31.04 and a one year high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

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 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%. Equities analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ON. Mizuho reduced 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. 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. Jefferies Financial Group cut their target price on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Craig Hallum decreased their price target on Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a report on Tuesday, February 11th. Finally, Roth Capital set a $60.00 target price on shares of Onsemi in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of "Moderate Buy" and an average target price of $63.52.

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.

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