Gateway Investment Advisers LLC boosted its holdings in Onsemi (NASDAQ:ON - Free Report) by 166.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,753 shares of the semiconductor company's stock after purchasing an additional 62,877 shares during the quarter. Gateway Investment Advisers LLC's holdings in Onsemi were worth $4,100,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Curat Global LLC purchased a new stake in shares of Onsemi during the 1st quarter worth approximately $378,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Onsemi by 23.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,362 shares of the semiconductor company's stock worth $218,000 after acquiring an additional 1,021 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Onsemi during the 1st quarter worth approximately $1,038,000. Czech National Bank raised its holdings in shares of Onsemi by 4.8% during the 1st quarter. Czech National Bank now owns 96,793 shares of the semiconductor company's stock worth $3,939,000 after acquiring an additional 4,471 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Onsemi by 4.8% during the 1st quarter. Rhumbline Advisers now owns 836,795 shares of the semiconductor company's stock worth $34,049,000 after acquiring an additional 38,376 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.
Onsemi Price Performance
Shares of ON stock opened at $50.17 on Friday. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The stock's 50-day moving average is $40.16 and its 200 day moving average is $50.40. The company has a market cap of $20.97 billion, a P/E ratio of 13.82, a PEG ratio of 16.74 and a beta of 1.39. 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 (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating 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 company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $1.08 earnings per share. The firm'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.
Analyst Upgrades and Downgrades
ON has been the topic of several recent research reports. KGI Securities initiated coverage on Onsemi in a report on Friday, May 23rd. They set a "neutral" rating on the stock. Jefferies Financial Group decreased their price target on Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Needham & Company LLC decreased their price target on Onsemi from $57.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. B. Riley lowered Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price target on the stock. in a report on Thursday, April 24th. Finally, TD Cowen increased their price target on Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Onsemi currently has a consensus rating of "Moderate Buy" and an average price target of $54.12.
View Our Latest Stock Report on Onsemi
Onsemi Company Profile
(
Free Report)
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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