ProShare Advisors LLC Raises Stock Holdings in Onsemi (NASDAQ:ON)

ProShare Advisors LLC grew its position in shares of Onsemi (NASDAQ:ON - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 624,067 shares of the semiconductor company's stock after buying an additional 79,801 shares during the quarter. ProShare Advisors LLC owned 0.15% of Onsemi worth $39,347,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts recently commented on ON shares. B. Riley cut Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research report on Thursday, April 24th. KeyCorp lowered their price objective on shares of Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Loop Capital dropped their price objective on shares of Onsemi from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group reduced their target price on shares of Onsemi from $100.00 to $85.00 and set a "buy" rating for the company in a report on Monday, February 10th. Finally, TD Cowen increased their price target on shares of Onsemi from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $54.12.

Onsemi Price Performance

Shares of ON traded up $0.42 during mid-day trading on Tuesday, hitting $44.26. 5,333,165 shares of the stock were exchanged, compared to its average volume of 7,739,040. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The company has a market cap of $18.50 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The firm has a 50-day moving average of $39.78 and a two-hundred day moving average of $52.65.

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