803 Shares in Onsemi (NASDAQ:ON) Bought by Plato Investment Management Ltd

Plato Investment Management Ltd bought a new position in Onsemi (NASDAQ:ON) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 803 shares of the semiconductor company’s stock, valued at approximately $51,000.

Several other hedge funds also recently made changes to their positions in ON. Bridgewater Associates LP increased its stake in shares of Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after buying an additional 1,109,778 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after purchasing an additional 326,734 shares in the last quarter. Geode Capital Management LLC raised its holdings in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Finally, Robeco Schweiz AG raised its holdings in Onsemi by 16.8% in the 4th quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock worth $77,804,000 after purchasing an additional 177,740 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $46.49 on Thursday. The firm’s 50-day moving average price is $54.89 and its 200-day moving average price is $64.91. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a market cap of $19.59 billion, a PE ratio of 12.81, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a 52-week low of $43.94 and a 52-week high of $85.16.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ON. Benchmark decreased their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Truist Financial decreased their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Morgan Stanley decreased their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Citigroup decreased their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Craig Hallum decreased their price target on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.12.

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.