Mackenzie Financial Corp Decreases Stock Holdings in Onsemi (NASDAQ:ON)

Mackenzie Financial Corp lowered its stake in Onsemi (NASDAQ:ON - Free Report) by 27.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,779,313 shares of the semiconductor company's stock after selling 1,422,954 shares during the period. Mackenzie Financial Corp owned about 0.88% of Onsemi worth $315,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Michigan Retirement System increased its stake in Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company's stock valued at $11,739,000 after buying an additional 4,900 shares during the period. Synergy Asset Management LLC boosted its position in Onsemi by 91.5% during the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company's stock worth $12,918,000 after acquiring an additional 73,909 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in Onsemi during the 4th quarter worth approximately $1,137,000. Chicago Capital LLC bought a new stake in shares of Onsemi in the fourth quarter worth $3,860,000. Finally, Bellwether Advisors LLC bought a new position in shares of Onsemi during the fourth quarter worth about $1,921,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

Onsemi Stock Performance

NASDAQ ON traded down $1.00 during trading on Monday, reaching $65.64. The company's stock had a trading volume of 7,075,897 shares, compared to its average volume of 7,303,908. The firm has a market capitalization of $28.22 billion, a price-to-earnings ratio of 13.42, 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 has a 12 month low of $61.47 and a 12 month high of $111.35. The firm has a 50 day moving average price of $75.91 and a 200 day moving average price of $77.04.

Onsemi (NASDAQ:ON - Get Free Report) last released its 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. The firm had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company's quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 earnings per share. As a group, equities analysts anticipate that Onsemi will post 4.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ON shares. Needham & Company LLC reissued a "buy" rating and set a $92.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. KeyCorp increased 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. Roth Mkm boosted their price target on Onsemi from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, February 6th. Susquehanna reiterated a "positive" rating and set a $90.00 price target on shares of Onsemi in a report on Monday, April 8th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.79.

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.