Two Sigma Investments LP boosted its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 389.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ON. Norges Bank acquired a new position in Onsemi in the fourth quarter valued at approximately $378,312,000. Janus Henderson Group PLC raised its position in Onsemi by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Onsemi during the 4th quarter worth $62,426,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Onsemi by 18.2% during the 4th 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 during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ON has been the topic of a number of recent analyst reports. Needham & Company LLC decreased their target price 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. Craig Hallum reduced their price target on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company lowered their price objective on shares of Onsemi from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group cut their target price on Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley initiated coverage on Onsemi in a research note on Monday, May 12th. They set an "equal weight" rating and a $39.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.12.
View Our Latest Research Report on ON
Onsemi Stock Up 5.2%
Shares of ON traded up $2.13 during midday trading on Tuesday, reaching $43.40. The stock had a trading volume of 9,662,662 shares, compared to its average volume of 7,805,278. The company has a market cap of $18.14 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 16.74 and a beta of 1.39. The company's fifty day simple moving average is $39.71 and its two-hundred day simple moving average is $51.66. 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.
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 for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion for 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%. Onsemi's quarterly revenue was down 22.4% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. Equities research analysts expect that Onsemi will post 2.6 earnings per share for the current year.
Onsemi Profile
(
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.
See Also
Before you consider Onsemi, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Onsemi wasn't on the list.
While Onsemi currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
