Voloridge Investment Management LLC Lowers Holdings in Onsemi (NASDAQ:ON)

Voloridge Investment Management LLC cut its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,713 shares of the semiconductor company's stock after selling 9,244 shares during the quarter. Voloridge Investment Management LLC's holdings in Onsemi were worth $4,585,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vident Advisory LLC grew its position in Onsemi by 9.4% in the fourth quarter. Vident Advisory LLC now owns 44,026 shares of the semiconductor company's stock valued at $2,776,000 after acquiring an additional 3,794 shares during the period. Vivaldi Capital Management LP acquired a new position in Onsemi in the fourth quarter valued at about $9,071,000. Twinbeech Capital LP acquired a new stake in shares of Onsemi during the fourth quarter worth about $291,000. Triglav Skladi D.O.O. acquired a new stake in shares of Onsemi during the fourth quarter worth about $320,000. Finally, Two Sigma Investments LP grew its holdings in shares of Onsemi by 389.6% during the fourth quarter. Two Sigma Investments LP now owns 205,836 shares of the semiconductor company's stock worth $12,978,000 after buying an additional 163,796 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Trading Down 2.6%

Shares of NASDAQ ON traded down $1.10 during trading hours on Friday, hitting $41.84. 10,184,926 shares of the company traded hands, compared to its average volume of 7,839,215. The stock has a market capitalization of $17.48 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company's 50 day moving average price is $39.57 and its 200 day moving average price is $51.04. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.10% and a net margin of 22.21%. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the business earned $1.08 EPS. Onsemi's revenue was down 22.4% compared to the same quarter last year. On average, equities research analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ON shares. Roth Capital set a $60.00 target price on Onsemi in a research note on Friday, March 7th. Roth Mkm dropped their price objective on Onsemi from $100.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Robert W. Baird dropped their price objective on Onsemi from $42.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. KeyCorp dropped their price objective on Onsemi from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Loop Capital dropped their price objective on Onsemi from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.