one8zero8 LLC Takes Position in Onsemi (NASDAQ:ON)

one8zero8 LLC bought a new stake in shares of Onsemi (NASDAQ:ON) in the fourth quarter, Holdings Channel.com reports. The fund bought 47,925 shares of the semiconductor company’s stock, valued at approximately $3,022,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ON. Newbridge Financial Services Group Inc. acquired a new stake in Onsemi during the 4th quarter valued at approximately $41,000. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi during the 3rd quarter valued at approximately $43,000. Synergy Asset Management LLC acquired a new stake in Onsemi during the 4th quarter valued at approximately $51,000. Plato Investment Management Ltd bought a new position in shares of Onsemi during the 4th quarter worth approximately $51,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after buying an additional 691 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ON shares. JPMorgan Chase & Co. cut their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Truist Financial cut their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group cut their price target on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus cut their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, B. Riley cut their price target on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.85.

Onsemi Price Performance

ON opened at $43.19 on Friday. The company has a market capitalization of $18.20 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 1 year low of $41.59 and a 1 year high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The firm’s fifty day moving average price is $51.59 and its two-hundred day moving average price is $63.20.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. As a group, analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.