NEOS Investment Management LLC Has $3.51 Million Stake in Onsemi (NASDAQ:ON)

NEOS Investment Management LLC increased its stake in shares of Onsemi (NASDAQ:ON) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,677 shares of the semiconductor company’s stock after buying an additional 11,120 shares during the quarter. NEOS Investment Management LLC’s holdings in Onsemi were worth $3,510,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Onsemi by 0.7% in the 4th 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 in the last quarter. Geode Capital Management LLC raised its position in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 worth $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Onsemi by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after purchasing an additional 83,665 shares in the last quarter. Finally, Robeco Schweiz AG increased its stake in shares of Onsemi by 16.8% in the 4th quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock valued at $77,804,000 after purchasing an additional 177,740 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of ON opened at $40.94 on Friday. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm’s fifty day simple moving average is $48.92 and its two-hundred day simple moving average is $61.25. Onsemi has a 12 month low of $40.62 and a 12 month high of $80.08. The stock has a market capitalization of $17.25 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59.

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

Wall Street Analyst Weigh In

ON has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. Truist Financial reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, February 11th. Rosenblatt Securities restated a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. Finally, UBS Group lowered their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.