Mackenzie Financial Corp Purchases 10,967 Shares of Onsemi (NASDAQ:ON)

Mackenzie Financial Corp grew its holdings in Onsemi (NASDAQ:ON - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,435 shares of the semiconductor company's stock after purchasing an additional 10,967 shares during the period. Mackenzie Financial Corp's holdings in Onsemi were worth $3,684,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in shares of Onsemi by 10.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,129 shares of the semiconductor company's stock worth $260,000 after acquiring an additional 375 shares during the last quarter. Blue Trust Inc. increased its position in Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock valued at $509,000 after purchasing an additional 1,119 shares during the period. Pacer Advisors Inc. increased its position in Onsemi by 21.5% during the 4th quarter. Pacer Advisors Inc. now owns 75,692 shares of the semiconductor company's stock valued at $4,772,000 after purchasing an additional 13,412 shares during the period. Hantz Financial Services Inc. increased its position in Onsemi by 62.5% during the 4th quarter. Hantz Financial Services Inc. now owns 2,482 shares of the semiconductor company's stock valued at $156,000 after purchasing an additional 955 shares during the period. Finally, Ibex Wealth Advisors bought a new position in shares of Onsemi in the 4th quarter worth about $316,000. Institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

ON has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price target on shares of Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Truist Financial lowered their price objective on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird reduced their target price on shares of Onsemi from $42.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. TD Cowen increased their price objective on shares of Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC cut their price objective on shares of Onsemi from $57.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.12.

Onsemi Price Performance

Shares of ON stock traded down $1.10 during mid-day trading on Friday, hitting $41.84. 10,184,926 shares of the stock traded hands, compared to its average volume of 7,830,891. The firm has a market cap of $17.48 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The company's 50-day simple moving average is $39.57 and its 200-day simple moving average is $51.16. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08.

Onsemi (NASDAQ:ON - Get Free Report) last issued its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the firm posted $1.08 earnings per share. Onsemi's revenue was down 22.4% compared to the same quarter last year. As a group, equities research analysts expect that Onsemi will post 2.6 earnings per share for the current year.

Onsemi 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.