Boussard & Gavaudan Investment Management LLP Acquires New Holdings in Onsemi (NASDAQ:ON)

Boussard & Gavaudan Investment Management LLP bought a new position in shares of Onsemi (NASDAQ:ON) in the fourth quarter, Holdings Channel reports. The firm bought 138,152 shares of the semiconductor company’s stock, valued at approximately $8,767,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Norges Bank acquired a new position in Onsemi during the 4th quarter valued at $378,312,000. Allspring Global Investments Holdings LLC increased its position in shares of Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Vanguard Group Inc. grew its position in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after acquiring an additional 344,354 shares during the last quarter. Andra AP fonden increased its stake in shares of Onsemi by 2,388.4% in the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock valued at $21,651,000 after buying an additional 329,600 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ON shares. JPMorgan Chase & Co. dropped their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. KeyCorp reduced their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group dropped their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Truist Financial reduced their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Finally, Citigroup dropped their target price on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Trading Down 2.8 %

NASDAQ:ON opened at $43.76 on Friday. Onsemi has a 1 year low of $41.59 and a 1 year high of $80.08. The stock’s fifty day moving average price is $49.20 and its two-hundred day moving average price is $61.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The company has a market cap of $18.44 billion, a P/E ratio of 12.06, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, analysts expect that Onsemi will post 2.6 EPS 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.