Teza Capital Management LLC Invests $304,000 in Onsemi (NASDAQ:ON)

Teza Capital Management LLC acquired a new stake in shares of Onsemi (NASDAQ:ON) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,819 shares of the semiconductor company’s stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ON. Norges Bank bought a new position in shares of Onsemi during the fourth quarter valued at $378,312,000. Janus Henderson Group PLC raised its position in Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after buying an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Onsemi during the 4th quarter valued at about $62,426,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Onsemi by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after acquiring an additional 771,610 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ON. UBS Group decreased their price objective on shares of Onsemi from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Craig Hallum decreased their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus dropped their price target on Onsemi from $52.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley started coverage on Onsemi in a report on Monday, May 12th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Mizuho lowered their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $54.12.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $44.26 on Wednesday. The company has a market capitalization of $18.50 billion, a P/E ratio of 12.19, a P/E/G ratio of 16.74 and a beta of 1.39. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The firm’s 50 day simple moving average is $39.83 and its two-hundred day simple moving average is $52.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $1.08 EPS. The company’s revenue was down 22.4% on a year-over-year basis. Research analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

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.