Heartland Advisors Inc. Has $13.87 Million Stake in Onsemi (NASDAQ:ON)

Heartland Advisors Inc. increased its position in Onsemi (NASDAQ:ON) by 129.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 219,972 shares of the semiconductor company’s stock after buying an additional 124,252 shares during the period. Heartland Advisors Inc. owned 0.05% of Onsemi worth $13,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Onsemi by 28.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,816 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 406 shares during the last quarter. Fisher Asset Management LLC increased its position in Onsemi by 6.2% during the third quarter. Fisher Asset Management LLC now owns 318,633 shares of the semiconductor company’s stock worth $23,136,000 after buying an additional 18,723 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Onsemi by 8.5% during the third quarter. D.A. Davidson & CO. now owns 7,061 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 552 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Onsemi in the third quarter worth about $126,000. Finally, Townsquare Capital LLC lifted its position in shares of Onsemi by 105.0% in the third quarter. Townsquare Capital LLC now owns 6,561 shares of the semiconductor company’s stock worth $476,000 after buying an additional 3,360 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of ON stock opened at $43.76 on Friday. The firm’s 50 day moving average price is $49.20 and its two-hundred day moving average price is $61.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. Onsemi has a 52-week low of $41.59 and a 52-week high of $80.08. The stock has a market cap of $18.44 billion, a PE ratio of 12.06, a PEG ratio of 16.74 and a beta of 1.59.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ON. Jefferies Financial Group reduced their target price on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Mizuho reduced their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday. 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 dropped their target price on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $49.00 price target on shares of Onsemi in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have given 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 $66.50.

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.