Polar Asset Management Partners Inc. Takes Position in Onsemi (NASDAQ:ON)

Polar Asset Management Partners Inc. acquired a new position in Onsemi (NASDAQ:ON - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 73,600 shares of the semiconductor company's stock, valued at approximately $4,640,000.

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

Onsemi Stock Performance

NASDAQ:ON traded down $1.08 during trading hours on Monday, hitting $43.84. 5,973,214 shares of the company traded hands, compared to its average volume of 7,748,655. The firm has a 50-day moving average of $39.76 and a 200 day moving average of $52.84. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 16.74 and a beta of 1.39. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08.

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

Analyst Ratings Changes

A number of analysts recently issued reports on ON shares. Benchmark reduced their price objective on Onsemi from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. UBS Group reduced their price target on Onsemi from $55.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Mizuho dropped their price objective on Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Roth Mkm cut their price objective on shares of Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company decreased their target price on shares of Onsemi from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Onsemi currently has a consensus rating of "Moderate Buy" and an average price target of $54.12.

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.