Fisher Funds Management LTD Purchases New Position in Onsemi (NASDAQ:ON)

Fisher Funds Management LTD acquired a new position in shares of Onsemi (NASDAQ:ON) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 68,644 shares of the semiconductor company’s stock, valued at approximately $4,340,000.

A number of other institutional investors also recently made changes to their positions in ON. Paradigm Asset Management Co. LLC acquired a new position in shares of Onsemi in the fourth quarter valued at about $120,000. Venturi Wealth Management LLC lifted its stake in Onsemi by 1,126.2% during the fourth quarter. Venturi Wealth Management LLC now owns 6,548 shares of the semiconductor company’s stock worth $413,000 after purchasing an additional 6,014 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Onsemi by 9.0% in the 4th quarter. D.A. Davidson & CO. now owns 7,698 shares of the semiconductor company’s stock valued at $485,000 after purchasing an additional 637 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Onsemi by 3.1% in the 4th quarter. CIBC Asset Management Inc now owns 136,971 shares of the semiconductor company’s stock valued at $8,636,000 after purchasing an additional 4,068 shares during the last quarter. Finally, DDD Partners LLC acquired a new position in shares of Onsemi during the 4th quarter worth $10,341,000. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ON shares. Roth Mkm cut their target price 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. Stifel Nicolaus reduced their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC dropped their target price on Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Loop Capital initiated coverage on Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Stock Down 3.0 %

Shares of NASDAQ:ON opened at $54.05 on Monday. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16. The company has a market capitalization of $22.78 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 16.74 and a beta of 1.61. The business has a fifty day moving average price of $57.39 and a two-hundred day moving average price of $66.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

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.