Renaissance Technologies LLC Purchases 174,800 Shares of Onsemi (NASDAQ:ON)

Renaissance Technologies LLC grew its position in Onsemi (NASDAQ:ON) by 43.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,296 shares of the semiconductor company’s stock after acquiring an additional 174,800 shares during the period. Renaissance Technologies LLC owned about 0.14% of Onsemi worth $36,525,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ON. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi during the 4th quarter worth approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Onsemi in the fourth quarter valued at $43,000. Synergy Asset Management LLC bought a new position in shares of Onsemi in the fourth quarter valued at about $51,000. Plato Investment Management Ltd acquired a new stake in shares of Onsemi during the 4th quarter worth about $51,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after buying an additional 691 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Up 0.6 %

ON stock opened at $35.08 on Friday. The stock has a market capitalization of $14.81 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. 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 50-day moving average price of $44.79 and a 200-day moving average price of $58.43. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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%. As a group, equities research analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ON shares. Susquehanna cut their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. B. Riley dropped their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. Morgan Stanley dropped their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Finally, Jefferies Financial Group decreased their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average target price of $65.46.

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.