Tidal Investments LLC Acquires 8,407 Shares of Onsemi (NASDAQ:ON)

Tidal Investments LLC lifted its position in Onsemi (NASDAQ:ON - Free Report) by 37.9% during the fourth quarter, according to the company in its most recent 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 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company's stock worth $3,224,081,000 after buying an additional 344,354 shares during the period. Janus Henderson Group PLC lifted its position in shares of Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after purchasing an additional 1,041,989 shares in the last quarter. Norges Bank acquired a new stake in shares of Onsemi during the fourth quarter worth about $378,312,000. Dimensional Fund Advisors LP lifted its position in shares of Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after purchasing an additional 771,610 shares in the last quarter. Finally, Capital International Investors raised its holdings in Onsemi by 0.7% in the fourth quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company's stock valued at $265,737,000 after acquiring an additional 31,365 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Onsemi Price Performance

ON stock traded up $0.41 during midday trading on Thursday, reaching $43.26. The company had a trading volume of 1,502,543 shares, compared to its average volume of 7,780,283. 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 has a 1 year low of $31.04 and a 1 year high of $80.08. The company has a market capitalization of $18.08 billion, a P/E ratio of 11.91, a P/E/G ratio of 16.74 and a beta of 1.39. The firm has a 50-day moving average price of $39.70 and a 200-day moving average price of $51.54.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion during 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 firm's revenue was down 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. On average, research analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

ON has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price objective on shares of Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Roth Mkm lowered their target price on shares of Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird lowered their price objective on shares of Onsemi from $42.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Onsemi from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Susquehanna reduced their target price on Onsemi from $70.00 to $60.00 and set a "positive" rating for the company in a report on Tuesday, February 11th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.12.

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.