Tidal Investments LLC lifted its holdings in Onsemi (NASDAQ:ON - Free Report) by 37.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,590 shares of the semiconductor company's stock after buying an additional 8,407 shares during the period. Tidal Investments LLC's holdings in Onsemi were worth $1,929,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock worth $509,000 after acquiring an additional 1,119 shares during the last quarter. Deltec Asset Management LLC purchased a new stake in Onsemi in the 4th quarter worth about $6,343,000. Olstein Capital Management L.P. bought a new stake in Onsemi in the fourth quarter worth about $4,792,000. Pacer Advisors Inc. boosted its position in shares of Onsemi by 21.5% during the fourth quarter. Pacer Advisors Inc. now owns 75,692 shares of the semiconductor company's stock valued at $4,772,000 after buying an additional 13,412 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Onsemi by 288.9% during the fourth quarter. Empowered Funds LLC now owns 160,770 shares of the semiconductor company's stock valued at $10,137,000 after buying an additional 119,428 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
Onsemi Stock Performance
Onsemi stock traded up $2.13 during mid-day trading on Tuesday, hitting $43.40. The company had a trading volume of 9,662,662 shares, compared to its average volume of 7,805,278. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 16.74 and a beta of 1.39. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company's fifty day moving average is $39.71 and its 200-day moving average is $51.66. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.
Onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company's revenue for the quarter was down 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. Equities research analysts predict that Onsemi will post 2.6 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on ON. Citigroup decreased their price target on Onsemi from $52.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Truist Financial cut their price target on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a report on Tuesday, February 11th. Robert W. Baird decreased their price objective 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. Rosenblatt Securities reaffirmed a "neutral" rating and set a $42.00 target price on shares of Onsemi in a research report on Tuesday, May 6th. Finally, Loop Capital lowered their target price on Onsemi from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.12.
View Our Latest Stock Analysis on Onsemi
About Onsemi
(
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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