Intech Investment Management LLC Raises Stake in Onsemi (NASDAQ:ON)

Intech Investment Management LLC raised its stake in Onsemi (NASDAQ:ON) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 434,003 shares of the semiconductor company’s stock after buying an additional 3,141 shares during the quarter. Intech Investment Management LLC owned approximately 0.10% of Onsemi worth $36,252,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC lifted its stake in shares of Onsemi by 26.4% in the 4th quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after purchasing an additional 1,482 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Onsemi by 7,749.6% in the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after purchasing an additional 82,301 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Onsemi by 7.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after purchasing an additional 637 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Onsemi by 6.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 480,948 shares of the semiconductor company’s stock worth $38,144,000 after acquiring an additional 27,426 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Onsemi stock traded up $0.91 during mid-day trading on Friday, reaching $72.56. 5,172,367 shares of the company were exchanged, compared to its average volume of 6,723,057. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The firm’s 50-day simple moving average is $70.41 and its two-hundred day simple moving average is $74.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The firm has a market cap of $31.22 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 3.31 and a beta of 1.78.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.19 EPS. Equities analysts predict that Onsemi will post 3.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Roth Mkm increased their target price on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Evercore ISI assumed coverage on Onsemi in a research note on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price on the stock. Jefferies Financial Group assumed coverage on Onsemi in a research note on Monday, May 13th. They set a “buy” rating and a $100.00 target price on the stock. TD Cowen decreased their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Rosenblatt Securities cut their price target on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.28.

Insider Buying and Selling

In related news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

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.