Two Sigma Investments LP Increases Position in Onsemi (NASDAQ:ON)

Two Sigma Investments LP lifted its position in shares of Onsemi (NASDAQ:ON) by 389.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 205,836 shares of the semiconductor company’s stock after buying an additional 163,796 shares during the period. Two Sigma Investments LP’s holdings in Onsemi were worth $12,978,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

ON has been the topic of a number of research analyst reports. Craig Hallum reduced 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. The Goldman Sachs Group cut their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Loop Capital cut their price target on shares of Onsemi from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Roth Mkm cut their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Susquehanna cut their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.12.

Onsemi Stock Performance

Shares of ON stock opened at $41.27 on Friday. 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 12 month low of $31.04 and a 12 month high of $80.08. The company’s fifty day moving average price is $39.76 and its two-hundred day moving average price is $52.14. The firm has a market capitalization of $17.25 billion, a P/E ratio of 11.37, a P/E/G ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. 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. Onsemi’s revenue for the quarter was down 22.4% compared to the same quarter last year. On average, research analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal 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.