Onsemi (NASDAQ:ON) Shares Acquired by Ethic Inc.

Ethic Inc. raised its stake in Onsemi (NASDAQ:ON) by 45.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,008 shares of the semiconductor company’s stock after acquiring an additional 13,686 shares during the period. Ethic Inc.’s holdings in Onsemi were worth $2,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ON. Vanguard Group Inc. raised its holdings in shares of Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after buying an additional 344,354 shares during the last quarter. Norges Bank bought a new stake in shares of Onsemi during the fourth quarter valued at approximately $378,312,000. Dimensional Fund Advisors LP raised its holdings in shares of Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after buying an additional 771,610 shares during the last quarter. Capital International Investors raised its holdings in shares of Onsemi by 0.7% during the fourth quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company’s stock valued at $265,737,000 after buying an additional 31,365 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $40.98 on Monday. The stock has a fifty day moving average of $39.72 and a 200-day moving average of $53.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. Onsemi has a one year low of $31.04 and a one year high of $80.08. The company has a market capitalization of $17.12 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $1.08 EPS. The company’s revenue was down 22.4% on a year-over-year basis. As a group, equities analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the topic of a number of recent analyst reports. Loop Capital cut their price target on Onsemi from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Roth Capital set a $60.00 target price on Onsemi in a report on Friday, March 7th. Truist Financial dropped their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Craig Hallum dropped their target price on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $42.00 target price on shares of Onsemi in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average price target of $54.32.

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.