Gotham Asset Management LLC Boosts Stake in onsemi $ON

Key Points

• Gotham Asset Management increased its onsemi stake by 53.9% in the fourth quarter, buying 267,130 additional shares and bringing its total to 762,360 shares worth about $41.3 million.
• Several other institutional investors also boosted holdings, and 97.7% of onsemi’s stock is owned by hedge funds and other institutions, highlighting strong institutional interest in the semiconductor maker.
• Analyst sentiment remains mostly positive: onsemi has a Moderate Buy consensus with an average price target of $94.68, while the company recently beat earnings and revenue estimates for the quarter.

Gotham Asset Management LLC raised its holdings in shares of onsemi (NASDAQ:ON - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 762,360 shares of the semiconductor company's stock after buying an additional 267,130 shares during the quarter. Gotham Asset Management LLC owned about 0.19% of onsemi worth $41,282,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its position in onsemi by 38.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,981,981 shares of the semiconductor company's stock worth $215,624,000 after buying an additional 1,112,774 shares in the last quarter. Quantbot Technologies LP grew its position in onsemi by 67.3% during the third quarter. Quantbot Technologies LP now owns 94,146 shares of the semiconductor company's stock worth $4,642,000 after buying an additional 37,881 shares in the last quarter. DNB Asset Management AS grew its position in onsemi by 30.9% during the third quarter. DNB Asset Management AS now owns 723,688 shares of the semiconductor company's stock worth $35,685,000 after buying an additional 170,635 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in onsemi during the third quarter worth about $991,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in onsemi by 3.6% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 906,863 shares of the semiconductor company's stock worth $44,717,000 after buying an additional 31,847 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ON. Wall Street Zen upgraded onsemi from a "hold" rating to a "buy" rating in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of onsemi in a report on Tuesday, May 5th. Truist Financial reiterated a "hold" rating and issued a $101.00 price objective (up from $66.00) on shares of onsemi in a report on Tuesday, May 5th. Needham & Company LLC upped their price objective on onsemi from $72.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, Rosenblatt Securities upped their price objective on onsemi from $60.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, onsemi presently has an average rating of "Moderate Buy" and a consensus price target of $94.68.

Insiders Place Their Bets

In related news, CFO Trent Thad sold 30,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $93.00, for a total transaction of $2,790,000.00. Following the completion of the sale, the chief financial officer directly owned 301,194 shares in the company, valued at $28,011,042. This represents a 9.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is owned by corporate insiders.

onsemi News Roundup

Here are the key news stories impacting onsemi this week:

• Negative Sentiment: Semiconductor stocks are selling off amid higher-rate jitters and broader profit-taking, pressuring onsemi (ON) with the rest of the chip sector.
• Negative Sentiment: onsemi’s recent convertible-notes financing may be creating short-term hedging and supply pressure in the shares.
• Neutral Sentiment: The company’s latest quarterly results were stronger than expected, but that positive fundamental backdrop is being overshadowed by macro and technical factors.

onsemi Price Performance

ON opened at $112.92 on Thursday. The stock has a 50-day moving average price of $104.04 and a 200-day moving average price of $75.88. onsemi has a 12-month low of $44.56 and a 12-month high of $134.92. The company has a current ratio of 4.87, a quick ratio of 3.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $44.25 billion, a P/E ratio of 80.09, a PEG ratio of 1.05 and a beta of 1.97.

onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, May 4th. The semiconductor company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.49 billion. onsemi had a return on equity of 12.79% and a net margin of 9.46%.onsemi's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. onsemi has set its Q2 2026 guidance at 0.650-0.770 EPS. Equities analysts predict that onsemi will post 3.09 earnings per share 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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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