Onsemi (NASDAQ:ON) Shares Purchased by Two Sigma Investments LP

Two Sigma Investments LP raised its holdings in Onsemi (NASDAQ:ON - Free Report) by 389.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,836 shares of the semiconductor company's stock after buying an additional 163,796 shares during the period. Two Sigma Investments LP's holdings in Onsemi were worth $12,978,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC grew its holdings in shares of Onsemi by 37.9% during the fourth quarter. Tidal Investments LLC now owns 30,590 shares of the semiconductor company's stock worth $1,929,000 after purchasing an additional 8,407 shares during the last quarter. Teza Capital Management LLC purchased a new position in shares of Onsemi during the fourth quarter worth about $304,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Onsemi during the fourth quarter worth about $646,000. Sig Brokerage LP purchased a new position in shares of Onsemi during the fourth quarter worth about $548,000. Finally, Silvercrest Asset Management Group LLC purchased a new position in shares of Onsemi during the fourth quarter worth about $10,695,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

Onsemi Price Performance

Shares of ON stock traded up $0.41 during midday trading on Thursday, reaching $43.26. 1,502,543 shares of the company traded hands, compared to its average volume of 7,780,283. The firm's 50 day simple moving average is $39.70 and its two-hundred day simple moving average is $51.54. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The firm has a market cap of $18.08 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON - Get Free Report) last posted 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. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $1.08 EPS. The company's revenue for the quarter was down 22.4% on a year-over-year basis. On average, equities research analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ON. KeyCorp lowered their price target on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Mizuho lowered their price target on Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Rosenblatt Securities reissued a "neutral" rating and set a $42.00 price target on shares of Onsemi in a report on Tuesday, May 6th. Jefferies Financial Group lowered their price target on Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Finally, Roth Mkm lowered their price target on Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Onsemi presently has an average rating of "Moderate Buy" and a consensus target price of $54.12.

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.