Tudor Investment Corp ET AL Decreases Stock Position in Onsemi (NASDAQ:ON)

Tudor Investment Corp ET AL decreased its position in shares of Onsemi (NASDAQ:ON - Free Report) by 52.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,597 shares of the semiconductor company's stock after selling 16,870 shares during the period. Tudor Investment Corp ET AL's holdings in Onsemi were worth $983,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company's stock valued at $25,724,000 after acquiring an additional 82,614 shares in the last quarter. Blue Trust Inc. increased its position in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company's stock worth $509,000 after purchasing an additional 1,119 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Onsemi in the 4th quarter valued at about $515,000. Deltec Asset Management LLC bought a new position in shares of Onsemi during the fourth quarter worth about $6,343,000. Finally, Wedge Capital Management L L P NC grew its stake in Onsemi by 40.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company's stock worth $1,763,000 after purchasing an additional 8,043 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. B. Riley downgraded Onsemi from a "buy" rating to a "neutral" rating and set a $41.00 target price on the stock. in a report on Thursday, April 24th. Susquehanna dropped their target price on shares of Onsemi from $70.00 to $60.00 and set a "positive" rating on the stock in a report on Tuesday, February 11th. TD Cowen lifted their target price on Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday. Loop Capital lowered their price objective on Onsemi from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Mizuho lowered their price target on shares of Onsemi from $71.00 to $62.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. One equities 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.32.

Onsemi Price Performance

NASDAQ:ON opened at $38.51 on Wednesday. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market cap of $16.25 billion, a P/E ratio of 10.61, a PEG ratio of 16.74 and a beta of 1.39. The business's 50-day moving average price is $40.06 and its 200 day moving average price is $54.48.

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, topping 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 company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the company posted $1.08 EPS. The business's revenue was down 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal 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.

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