Quantbot Technologies LP Buys New Position in Onsemi (NASDAQ:ON)

Quantbot Technologies LP purchased a new position in Onsemi (NASDAQ:ON) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 12,471 shares of the semiconductor company’s stock, valued at approximately $786,000.

Other large investors also recently modified their holdings of the company. Bridgewater Associates LP increased its stake in Onsemi by 8,367.5% during the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after acquiring an additional 1,109,778 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 35.0% during 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. Andra AP fonden increased its position in shares of Onsemi by 2,388.4% during the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock valued at $21,651,000 after purchasing an additional 329,600 shares during the period. Geode Capital Management LLC lifted its position in Onsemi by 3.0% in the third 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 during the period. Finally, Talos Asset Management LP acquired a new stake in Onsemi during the fourth quarter worth $13,328,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Price Performance

Shares of ON stock opened at $45.04 on Thursday. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 16.74 and a beta of 1.59. The stock has a 50-day moving average price of $49.39 and a 200 day moving average price of $61.58.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Research analysts expect that Onsemi will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ON. Morgan Stanley reduced 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. Susquehanna cut their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Jefferies Financial Group cut their target price on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a research report on Thursday, February 27th. Two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

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.