Vident Advisory LLC Has $2.78 Million Stock Holdings in Onsemi (NASDAQ:ON)

Vident Advisory LLC raised its stake in shares of Onsemi (NASDAQ:ON) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,026 shares of the semiconductor company’s stock after purchasing an additional 3,794 shares during the period. Vident Advisory LLC’s holdings in Onsemi were worth $2,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Vanguard Group Inc. raised its position in shares of Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after buying an additional 344,354 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after buying an additional 1,041,989 shares during the last quarter. Norges Bank acquired a new position in shares of Onsemi during the fourth quarter valued at about $378,312,000. Dimensional Fund Advisors LP raised its position in shares of Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after buying an additional 771,610 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Onsemi by 0.7% during the fourth quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company’s stock valued at $265,737,000 after buying an additional 31,365 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ON shares. Morgan Stanley started coverage on Onsemi in a research report on Monday, May 12th. They issued an “equal weight” rating and a $39.00 target price for the company. Stifel Nicolaus reduced their target price on Onsemi from $52.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on Onsemi from $60.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. TD Cowen raised their target price on Onsemi from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC reduced their target price on Onsemi from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.12.

Onsemi Stock Down 1.4%

Shares of NASDAQ ON opened at $43.66 on Thursday. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The stock has a market cap of $18.24 billion, a PE ratio of 12.03, a PEG ratio of 16.74 and a beta of 1.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The business has a fifty day moving average of $39.84 and a two-hundred day moving average of $52.53.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. As a group, equities research analysts expect that Onsemi will post 2.6 earnings per share 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.