Quantinno Capital Management LP Purchases 14,342 Shares of Onsemi (NASDAQ:ON)

Quantinno Capital Management LP increased its position in Onsemi (NASDAQ:ON - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,664 shares of the semiconductor company's stock after acquiring an additional 14,342 shares during the period. Quantinno Capital Management LP's holdings in Onsemi were worth $4,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Truvestments Capital LLC lifted its stake in Onsemi by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after buying an additional 207 shares in the last quarter. Assetmark Inc. lifted its stake in Onsemi by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock valued at $4,949,000 after buying an additional 235 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Onsemi by 3.9% during the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock valued at $424,000 after buying an additional 252 shares in the last quarter. Huntington National Bank lifted its stake in Onsemi by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock valued at $209,000 after buying an additional 271 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its stake in Onsemi by 6.9% during the fourth quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company's stock valued at $275,000 after buying an additional 282 shares in the last quarter. Institutional investors own 97.70% of the company's stock.

Onsemi Stock Performance

ON traded down $0.60 during trading on Wednesday, reaching $43.66. 8,595,728 shares of the company's stock were exchanged, compared to its average volume of 7,769,164. Onsemi has a fifty-two week low of $31.04 and a fifty-two 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 business has a 50 day moving average price of $39.84 and a 200 day moving average price of $52.53. The company has a market capitalization of $18.24 billion, a P/E ratio of 12.03, a PEG ratio of 16.74 and a beta of 1.39.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on ON shares. Benchmark reduced their price target on shares of Onsemi from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Craig Hallum reduced their price target on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, February 11th. Truist Financial cut their price objective on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC cut their price objective on shares of Onsemi from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, UBS Group cut their price objective on shares of Onsemi from $55.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.12.

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.