OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Holdings in Onsemi (NASDAQ:ON)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Onsemi (NASDAQ:ON) by 175.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,500 shares of the semiconductor company’s stock after purchasing an additional 17,500 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Onsemi were worth $1,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,119 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Onsemi in the fourth quarter valued at approximately $515,000. Deltec Asset Management LLC purchased a new stake in shares of Onsemi in the fourth quarter valued at approximately $6,343,000. Wedge Capital Management L L P NC increased its holdings in Onsemi by 40.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company’s stock worth $1,763,000 after acquiring an additional 8,043 shares in the last quarter. Finally, Olstein Capital Management L.P. purchased a new stake in Onsemi in the 4th quarter worth $4,792,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ON. UBS Group cut their price target on shares of Onsemi from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Citigroup cut their target price on shares of Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on shares of Onsemi from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Craig Hallum cut their price objective on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Finally, B. Riley lowered Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Thursday, April 24th. 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 MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.12.

Onsemi Trading Up 2.6%

Shares of ON opened at $45.77 on Wednesday. The firm has a 50-day moving average price of $39.72 and a 200 day moving average price of $53.56. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $19.13 billion, a P/E ratio of 12.61, a P/E/G ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 for the quarter was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 EPS. Sell-side analysts forecast that Onsemi will post 2.6 EPS for the current year.

Onsemi Company 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.