Onsemi (NASDAQ:ON) Shares Bought by Prosperitas Financial LLC

Prosperitas Financial LLC grew its stake in shares of Onsemi (NASDAQ:ON) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,881 shares of the semiconductor company’s stock after acquiring an additional 3,452 shares during the period. Prosperitas Financial LLC’s holdings in Onsemi were worth $1,410,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sentry Investment Management LLC boosted its holdings in shares of Onsemi by 234.7% in the 4th quarter. Sentry Investment Management LLC now owns 8,395 shares of the semiconductor company’s stock valued at $701,000 after buying an additional 5,887 shares during the period. S. R. Schill & Associates boosted its holdings in shares of Onsemi by 17.6% in the 4th quarter. S. R. Schill & Associates now owns 4,580 shares of the semiconductor company’s stock valued at $383,000 after buying an additional 687 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Onsemi by 4.0% in the 4th quarter. Vontobel Holding Ltd. now owns 168,553 shares of the semiconductor company’s stock valued at $14,079,000 after buying an additional 6,469 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Onsemi in the 4th quarter valued at about $5,029,000. Finally, Crestwood Advisors Group LLC acquired a new position in shares of Onsemi in the 4th quarter valued at about $640,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Down 1.2 %

ON stock traded down $0.82 during trading hours on Tuesday, hitting $64.82. The company’s stock had a trading volume of 1,652,170 shares, compared to its average volume of 7,222,367. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $27.86 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 6.45 and a beta of 1.80. Onsemi has a 12 month low of $61.47 and a 12 month high of $111.35. The stock has a 50 day moving average price of $75.91 and a two-hundred day moving average price of $77.04.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 earnings per share. On average, equities research analysts expect that Onsemi will post 4.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ON. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. TD Cowen boosted their target price on shares of Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. KeyCorp boosted their target price on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Truist Financial reduced their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $92.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $98.52.

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.