UniSuper Management Pty Ltd Raises Position in Onsemi (NASDAQ:ON)

UniSuper Management Pty Ltd increased its stake in shares of Onsemi (NASDAQ:ON) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 95,977 shares of the semiconductor company’s stock after purchasing an additional 8,334 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Onsemi were worth $6,051,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB grew its stake in shares of Onsemi by 25.9% during the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the last quarter. Cinctive Capital Management LP bought a new position in Onsemi in the 3rd quarter valued at $1,270,000. Blue Trust Inc. increased its stake in Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 1,119 shares during the period. Oak Thistle LLC bought a new stake in shares of Onsemi during the fourth quarter worth $515,000. Finally, Deltec Asset Management LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at $6,343,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 2.8 %

Shares of ON opened at $43.76 on Friday. 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 price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The firm’s fifty day moving average is $49.20 and its two-hundred day moving average is $61.45. 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 (NASDAQ:ON) last announced its quarterly earnings data 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 net margin of 22.21% and a return on equity of 20.10%. Research analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ON. Stifel Nicolaus reduced their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley decreased their price target 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. B. Riley lowered their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group dropped their target price on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Roth Mkm cut their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two 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 data from MarketBeat, Onsemi presently 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.