OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 17,500 Shares of Onsemi (NASDAQ:ON)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Onsemi (NASDAQ:ON - Free Report) by 175.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,500 shares of the semiconductor company's stock after buying an additional 17,500 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Onsemi were worth $1,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Onsemi during the 4th quarter valued at about $378,312,000. Janus Henderson Group PLC grew its position in Onsemi by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock valued at $780,387,000 after acquiring an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company's stock valued at $247,226,000 after acquiring an additional 1,037,624 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Onsemi in the fourth quarter valued at approximately $62,426,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after buying an additional 771,610 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ON. Benchmark decreased their price target on shares of Onsemi from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. B. Riley cut Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 target price on the stock. in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on Onsemi from $60.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. KeyCorp lowered their price target on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Robert W. Baird lowered their target price on Onsemi from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Onsemi presently has an average rating of "Moderate Buy" and a consensus target price of $54.12.

Onsemi Stock Performance

ON traded up $0.40 on Friday, hitting $44.92. The company had a trading volume of 5,476,301 shares, compared to its average volume of 7,740,138. The company's fifty day moving average price is $39.76 and its 200 day moving average price is $53.10. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock has a market cap of $18.77 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping 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 analyst estimates of $1.40 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The company's quarterly revenue was down 22.4% compared to the same quarter last year. Equities analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Onsemi Company 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.