Duality Advisers LP Boosts Position in Onsemi (NASDAQ:ON)

Duality Advisers LP increased its holdings in Onsemi (NASDAQ:ON) by 22.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,384 shares of the semiconductor company’s stock after acquiring an additional 2,107 shares during the quarter. Duality Advisers LP’s holdings in Onsemi were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Provence Wealth Management Group purchased a new position in shares of Onsemi in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Onsemi in the fourth quarter worth $32,000. Hanseatic Management Services Inc. purchased a new position in Onsemi during the third quarter valued at $38,000. Headinvest LLC purchased a new stake in shares of Onsemi in the 3rd quarter worth about $44,000. Finally, First Pacific Financial bought a new position in shares of Onsemi in the 3rd quarter worth about $45,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Trading Up 1.7 %

Onsemi stock opened at $61.68 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The firm has a market capitalization of $26.51 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 5.92 and a beta of 1.80. The firm has a 50 day moving average of $73.93 and a 200 day moving average of $75.84.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion for 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 was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $1.32 EPS. As a group, research analysts predict that Onsemi will post 4.3 earnings per share for the current year.

Analysts Set New Price Targets

ON has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday. BNP Paribas reiterated an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. Truist Financial reduced their price target on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. KeyCorp upped their price target on shares of Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.28.

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.