Northern Trust Corp Acquires 292,225 Shares of Onsemi (NASDAQ:ON)

Northern Trust Corp grew its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 8.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,787,829 shares of the semiconductor company's stock after purchasing an additional 292,225 shares during the period. Northern Trust Corp owned approximately 0.89% of Onsemi worth $238,823,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in Onsemi in the fourth quarter worth about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Onsemi in the 4th quarter worth approximately $43,000. Synergy Asset Management LLC purchased a new position in Onsemi in the 4th quarter worth approximately $51,000. Plato Investment Management Ltd purchased a new stake in Onsemi during the 4th quarter valued at $51,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 691 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Roth Capital set a $60.00 price target on Onsemi in a report on Friday, March 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 price target on shares of Onsemi in a report on Monday, March 3rd. Roth Mkm decreased their price objective on shares of Onsemi from $100.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Jefferies Financial Group dropped their target price on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Finally, Craig Hallum decreased their target price on shares of Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.24.

Onsemi Price Performance

Shares of ON stock traded down $3.50 during mid-day trading on Monday, hitting $38.41. The company had a trading volume of 24,173,021 shares, compared to its average volume of 7,555,073. The company has a market capitalization of $16.21 billion, a P/E ratio of 10.58, a P/E/G ratio of 16.74 and a beta of 1.39. The stock's 50 day moving average price is $40.48 and its 200-day moving average price is $54.80. Onsemi has a 52-week low of $31.04 and a 52-week 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.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The business's revenue was down 22.4% on a year-over-year basis. Equities research analysts forecast that Onsemi will post 2.6 earnings per share 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.