Occudo Quantitative Strategies LP Raises Position in Onsemi (NASDAQ:ON)

Occudo Quantitative Strategies LP grew its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 285.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,403 shares of the semiconductor company's stock after acquiring an additional 9,188 shares during the period. Occudo Quantitative Strategies LP's holdings in Onsemi were worth $782,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ON. Blue Trust Inc. raised its holdings in Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock worth $509,000 after purchasing an additional 1,119 shares during the last quarter. Oak Thistle LLC bought a new position in Onsemi during the fourth quarter worth $515,000. Deltec Asset Management LLC acquired a new position in Onsemi in the fourth quarter valued at $6,343,000. Wedge Capital Management L L P NC boosted its position in Onsemi by 40.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company's stock valued at $1,763,000 after acquiring an additional 8,043 shares during the last quarter. Finally, Olstein Capital Management L.P. acquired a new stake in Onsemi during the 4th quarter worth about $4,792,000. Institutional investors and hedge funds own 97.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Susquehanna cut their target price on Onsemi from $70.00 to $60.00 and set a "positive" rating on the stock in a research report on Tuesday, February 11th. The Goldman Sachs Group dropped their price target on Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. B. Riley cut Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price target on the stock. in a report on Thursday, April 24th. Roth Capital set a $60.00 price objective on shares of Onsemi in a research note on Friday, March 7th. Finally, Loop Capital cut their target price on shares of Onsemi from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.12.

Onsemi Stock Up 0.9%

ON stock traded up $0.40 during trading on Friday, reaching $44.92. The stock had a trading volume of 5,476,301 shares, compared to its average volume of 7,755,784. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $18.77 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 16.74 and a beta of 1.39. Onsemi has a one year low of $31.04 and a one year high of $80.08. The company's 50 day moving average is $39.76 and its two-hundred day moving average is $52.96.

Onsemi (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates 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 in the prior year, the company posted $1.08 earnings per share. Equities research analysts forecast that Onsemi will post 2.6 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.