Tower Research Capital LLC TRC Boosts Stake in Onsemi (NASDAQ:ON)

Tower Research Capital LLC TRC grew its holdings in Onsemi (NASDAQ:ON - Free Report) by 209.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,925 shares of the semiconductor company's stock after purchasing an additional 81,181 shares during the period. Tower Research Capital LLC TRC's holdings in Onsemi were worth $7,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ON. Norges Bank purchased a new position in shares of Onsemi during the fourth quarter worth $378,312,000. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock worth $247,226,000 after purchasing an additional 1,037,624 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Onsemi by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock valued at $316,195,000 after purchasing an additional 771,610 shares during the period. Vanguard Group Inc. grew its holdings in shares of Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock valued at $3,224,081,000 after purchasing an additional 344,354 shares in the last quarter. Finally, Andra AP fonden lifted its holdings in Onsemi by 2,388.4% during the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company's stock worth $21,651,000 after buying an additional 329,600 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Price Performance

Shares of NASDAQ ON traded down $0.28 on Friday, hitting $39.68. The company's stock had a trading volume of 4,299,805 shares, compared to its average volume of 7,497,150. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. 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 stock has a 50 day moving average of $42.12 and a 200-day moving average of $56.27. The company has a market capitalization of $16.75 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts predict that Onsemi will post 2.6 EPS for the current year.

Analyst Upgrades and Downgrades

ON has been the topic of a number of recent research reports. Jefferies Financial Group cut their price objective on Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. KeyCorp cut their price target on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Rosenblatt Securities reissued a "neutral" rating and set a $49.00 price objective on shares of Onsemi in a research report on Thursday, February 27th. UBS Group reduced their target price on shares of Onsemi from $72.00 to $65.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Onsemi has an average rating of "Moderate Buy" and an average price target 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.