Artemis Investment Management LLP Invests $5.64 Million in Onsemi (NASDAQ:ON)

Artemis Investment Management LLP acquired a new position in Onsemi (NASDAQ:ON) in the fourth quarter, Holdings Channel.com reports. The fund acquired 89,509 shares of the semiconductor company’s stock, valued at approximately $5,644,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Shelton Wealth Management LLC purchased a new position in shares of Onsemi in the fourth quarter worth $951,000. Wedge Capital Management L L P NC lifted its position in Onsemi by 40.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company’s stock worth $1,763,000 after acquiring an additional 8,043 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Onsemi by 20.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 722 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Onsemi by 14.8% in the fourth quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 1,221 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Onsemi during the fourth quarter worth about $515,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Up 2.1 %

Shares of ON opened at $54.63 on Monday. The stock has a 50 day moving average price of $65.26 and a 200 day moving average price of $69.75. Onsemi has a one year low of $53.10 and a one year high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 5.29 and a beta of 1.64.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. Equities research analysts forecast that Onsemi will post 3.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

ON has been the subject of a number of recent research reports. TD Cowen reduced their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company decreased their target price on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Morgan Stanley increased their price target on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.35.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Onsemi 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.