Townsquare Capital LLC Grows Stock Position in Onsemi (NASDAQ:ON)

Townsquare Capital LLC grew its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 229.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,602 shares of the semiconductor company's stock after buying an additional 15,041 shares during the period. Townsquare Capital LLC's holdings in Onsemi were worth $1,362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi in the fourth quarter valued at about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Onsemi in the 4th quarter worth approximately $43,000. Synergy Asset Management LLC bought a new position in Onsemi in the 4th quarter worth approximately $51,000. Plato Investment Management Ltd bought a new stake in shares of Onsemi during the fourth quarter valued at approximately $51,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock worth $54,000 after buying an additional 691 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ON. Jefferies Financial Group decreased their price target 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. KeyCorp decreased their target price on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Craig Hallum cut 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. Rosenblatt Securities reiterated a "neutral" rating and set a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. Finally, Mizuho reduced their price target on shares of Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.52.

Onsemi Stock Up 3.7 %

Shares of ON traded up $1.32 during mid-day trading on Wednesday, hitting $36.77. The company's stock had a trading volume of 2,170,866 shares, compared to its average volume of 7,479,564. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company's 50-day moving average is $42.66 and its 200-day moving average is $56.63. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON - Get Free Report) last announced its 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 net margin of 22.21% and a return on equity of 20.10%. On average, equities research analysts forecast that Onsemi will post 2.6 EPS 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.