Ethic Inc. Boosts Stake in Onsemi (NASDAQ:ON)

Ethic Inc. raised its holdings in Onsemi (NASDAQ:ON - Free Report) by 45.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,008 shares of the semiconductor company's stock after purchasing an additional 13,686 shares during the quarter. Ethic Inc.'s holdings in Onsemi were worth $2,775,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ON. Norges Bank acquired a new stake in shares of Onsemi in the 4th quarter valued at about $378,312,000. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock worth $247,226,000 after buying an additional 1,037,624 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Onsemi during the 4th quarter worth approximately $62,426,000. Dimensional Fund Advisors LP grew its holdings in shares of Onsemi by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after acquiring an additional 771,610 shares during the period. Finally, Benchstone Capital Management LP acquired a new stake in shares of Onsemi in the 4th quarter worth approximately $34,461,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen increased their target price on Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Rosenblatt Securities reiterated a "neutral" rating and set a $42.00 target price on shares of Onsemi in a report on Tuesday, May 6th. B. Riley cut Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 target price on the stock. in a report on Thursday, April 24th. Robert W. Baird decreased their price objective on Onsemi from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, KeyCorp decreased their price objective on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.32.

Onsemi Trading Up 3.0%

NASDAQ:ON opened at $40.98 on Monday. The business's 50-day moving average is $39.72 and its two-hundred day moving average is $53.80. 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 has a 12 month low of $31.04 and a 12 month high of $80.08. The firm has a market capitalization of $17.12 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

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

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.

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