Sig Brokerage LP Acquires New Stake in Onsemi (NASDAQ:ON)

Sig Brokerage LP acquired a new position in Onsemi (NASDAQ:ON - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 8,693 shares of the semiconductor company's stock, valued at approximately $548,000.

Several other institutional investors have also recently added to or reduced their stakes in ON. Newbridge Financial Services Group Inc. purchased a new position in Onsemi in the 4th quarter worth approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onsemi during 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 approximately $51,000. Plato Investment Management Ltd acquired a new stake in shares of Onsemi during the 4th quarter valued at approximately $51,000. Finally, Rakuten Securities Inc. raised its position 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 acquiring an additional 691 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Onsemi Trading Down 1.5%

Shares of Onsemi stock opened at $44.52 on Friday. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 16.74 and a beta of 1.39. The business has a 50-day moving average price of $39.72 and a 200-day moving average price of $53.31. The company has a quick ratio of 3.38, a current ratio of 5.06 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 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. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company's revenue for the quarter was down 22.4% compared to the same quarter last year. Equities research analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ON. Jefferies Financial Group dropped their target price on Onsemi from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Citigroup dropped their target price on Onsemi from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. 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. Craig Hallum lowered their price target on Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday, February 11th. Finally, Loop Capital lowered their price target on Onsemi from $65.00 to $55.00 and set a "buy" 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.12.

About Onsemi

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.

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