National Bank of Canada FI Boosts Holdings in Onsemi (NASDAQ:ON)

National Bank of Canada FI raised its position in shares of Onsemi (NASDAQ:ON - Free Report) by 87.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 422,971 shares of the semiconductor company's stock after purchasing an additional 196,875 shares during the quarter. National Bank of Canada FI owned 0.10% of Onsemi worth $34,153,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company's stock worth $6,963,000 after acquiring an additional 82,301 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Onsemi by 7.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company's stock worth $798,000 after acquiring an additional 637 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Onsemi by 3.6% in the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company's stock worth $11,739,000 after acquiring an additional 4,900 shares during the last quarter. Synergy Asset Management LLC increased its stake in shares of Onsemi by 91.5% in 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. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Onsemi in the fourth quarter worth $1,137,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Down 1.0 %

NASDAQ ON traded down $0.70 during trading hours on Monday, hitting $69.67. The company's stock had a trading volume of 6,050,639 shares, compared to its average volume of 7,533,349. The stock has a fifty day moving average of $72.19 and a 200 day moving average of $74.42. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The firm has a market capitalization of $29.97 billion, a P/E ratio of 14.22, a PEG ratio of 3.18 and a beta of 1.78. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business posted $1.19 earnings per share. Onsemi's revenue was down 4.9% compared to the same quarter last year. Equities research analysts forecast that Onsemi will post 3.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ON. Truist Financial decreased their price objective on shares of Onsemi from $89.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, April 30th. Susquehanna decreased their price objective on shares of Onsemi from $90.00 to $85.00 and set a "positive" rating for the company in a report on Tuesday, April 30th. Evercore ISI assumed coverage on shares of Onsemi in a report on Tuesday, April 16th. They set an "outperform" rating and a $104.00 price target for the company. TD Cowen decreased their price target on shares of Onsemi from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Onsemi from $95.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.24.

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.