Sig Brokerage LP Makes New Investment in Onsemi (NASDAQ:ON)

Sig Brokerage LP purchased a new position in shares of Onsemi (NASDAQ:ON) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,693 shares of the semiconductor company’s stock, valued at approximately $548,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Oak Thistle LLC purchased a new position in Onsemi during the fourth quarter worth about $515,000. Park Avenue Securities LLC boosted its position in Onsemi by 14.8% during the fourth quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company’s stock worth $599,000 after acquiring an additional 1,221 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Onsemi by 20.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company’s stock worth $274,000 after acquiring an additional 722 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of 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 valued at $1,763,000 after purchasing an additional 8,043 shares during the last quarter. Finally, Shelton Wealth Management LLC acquired a new position in shares of Onsemi in the 4th quarter valued at $951,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ON. Robert W. Baird cut their price objective on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. TD Cowen boosted their price objective on shares of Onsemi from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Citigroup reduced 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. Mizuho reduced their price target on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Onsemi in a research note on Tuesday, May 6th. Eleven equities 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.12.

Onsemi Trading Down 1.5%

Shares of Onsemi stock opened at $44.52 on Friday. The firm has a market cap of $18.60 billion, a PE ratio of 12.26, a PEG ratio of 16.74 and a beta of 1.39. 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 has a 1 year low of $31.04 and a 1 year high of $80.08. The company has a 50 day simple moving average of $39.72 and a two-hundred day simple moving average of $53.31.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company’s revenue was down 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. Analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal 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.