Louisiana State Employees Retirement System Invests $5.03 Million in Onsemi (NASDAQ:ON)

Louisiana State Employees Retirement System acquired a new stake in Onsemi (NASDAQ:ON - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 60,200 shares of the semiconductor company's stock, valued at approximately $5,029,000.

Other hedge funds have also modified their holdings of the company. Provence Wealth Management Group bought a new position in Onsemi during the 3rd quarter valued at about $25,000. FinTrust Capital Advisors LLC acquired a new position in shares of Onsemi in the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Onsemi in the 4th quarter worth approximately $32,000. Ancora Advisors LLC acquired a new stake in Onsemi during the 1st quarter valued at $33,000. Finally, Hanseatic Management Services Inc. bought a new position in Onsemi in the 3rd quarter valued at $38,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ON shares. Roth Mkm increased their target price on Onsemi from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. TD Cowen boosted their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 6th. StockNews.com raised shares of Onsemi from a "sell" rating to a "hold" rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price objective on shares of Onsemi from $95.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, February 6th. Finally, KeyCorp upped their price objective on Onsemi from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, February 6th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.79.

Onsemi Stock Down 5.6 %

Shares of ON stock traded down $3.96 on Friday, hitting $66.64. 7,453,643 shares of the stock were exchanged, compared to its average volume of 5,654,015. The business has a 50-day moving average of $76.15 and a 200 day moving average of $77.24. Onsemi has a fifty-two week low of $61.47 and a fifty-two week high of $111.35. The firm has a market capitalization of $28.65 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 6.45 and a beta of 1.80. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2 billion. During the same period last year, the business earned $1.32 EPS. The business's quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts anticipate that Onsemi will post 4.34 EPS for the current year.

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.