Benchstone Capital Management LP Takes Position in Onsemi (NASDAQ:ON)

Benchstone Capital Management LP bought a new position in Onsemi (NASDAQ:ON - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 546,566 shares of the semiconductor company's stock, valued at approximately $34,461,000. Onsemi makes up approximately 3.6% of Benchstone Capital Management LP's investment portfolio, making the stock its 10th largest holding. Benchstone Capital Management LP owned about 0.13% of Onsemi as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock valued at $3,224,081,000 after buying an additional 344,354 shares during the last quarter. Norges Bank bought a new stake in shares of Onsemi in the fourth quarter worth $378,312,000. Dimensional Fund Advisors LP increased its position in Onsemi by 18.2% during 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 acquiring an additional 771,610 shares during the last quarter. Capital International Investors lifted its holdings in Onsemi by 0.7% in the fourth quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company's stock valued at $265,737,000 after acquiring an additional 31,365 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Onsemi by 35.0% in 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 last quarter. 97.70% of the stock is owned by institutional investors.

Onsemi Trading Up 0.3 %

NASDAQ ON traded up $0.10 during trading hours on Tuesday, hitting $38.51. 13,518,173 shares of the company were exchanged, compared to its average volume of 7,584,811. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $40.06 and a 200 day moving average price of $54.48. The stock has a market cap of $16.25 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The company's revenue for the quarter was down 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. Analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Craig Hallum lowered their target price on Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a research report on Tuesday, February 11th. TD Cowen lifted their price objective on Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday. Truist Financial reduced their target price on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a report on Tuesday, February 11th. Benchmark lowered their price target on shares of Onsemi from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, B. Riley cut shares of Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.32.

Onsemi Company 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.