Easterly Investment Partners LLC Acquires Shares of 68,758 Onsemi (NASDAQ:ON)

Easterly Investment Partners LLC bought a new position in shares of Onsemi (NASDAQ:ON) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 68,758 shares of the semiconductor company’s stock, valued at approximately $4,335,000.

Several other large investors also recently modified their holdings of ON. Nordea Investment Management AB raised its position in shares of Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after acquiring an additional 82,614 shares in the last quarter. Cinctive Capital Management LP bought a new position in Onsemi in the third quarter worth $1,270,000. Blue Trust Inc. lifted its position in Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,119 shares during the period. Oak Thistle LLC purchased a new stake in shares of Onsemi in the 4th quarter worth about $515,000. Finally, Deltec Asset Management LLC bought a new position in shares of Onsemi in the 4th quarter worth about $6,343,000. 97.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ON. Mizuho dropped their price objective on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday. The Goldman Sachs Group dropped their price target on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Citigroup lowered their price objective on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Rosenblatt Securities reissued a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a research note on Thursday, February 27th. Finally, Susquehanna lowered their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Down 0.6 %

ON opened at $45.04 on Thursday. Onsemi has a 1-year low of $41.59 and a 1-year high of $80.08. The firm’s 50 day simple moving average is $49.39 and its two-hundred day simple moving average is $61.58. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $18.98 billion, a PE ratio of 12.41, a PEG ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, equities analysts forecast that Onsemi will post 2.6 EPS for the current year.

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.