Linden Thomas Advisory Services LLC Increases Stock Holdings in Onsemi (NASDAQ:ON)

Linden Thomas Advisory Services LLC increased its stake in Onsemi (NASDAQ:ON) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,497 shares of the semiconductor company’s stock after buying an additional 509 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Onsemi were worth $793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ON. DAVENPORT & Co LLC boosted its holdings in Onsemi by 8.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 11,267 shares of the semiconductor company’s stock valued at $1,047,000 after acquiring an additional 882 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Onsemi by 199.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock worth $378,000 after buying an additional 2,707 shares during the period. Private Trust Co. NA boosted its position in Onsemi by 13.2% during the 3rd quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock valued at $119,000 after acquiring an additional 149 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Onsemi by 44.9% in the 3rd quarter. Caprock Group LLC now owns 3,570 shares of the semiconductor company’s stock valued at $332,000 after acquiring an additional 1,107 shares during the period. Finally, Czech National Bank raised its position in shares of Onsemi by 47.5% in the 3rd quarter. Czech National Bank now owns 75,423 shares of the semiconductor company’s stock worth $7,011,000 after acquiring an additional 24,298 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ON. Morgan Stanley cut their target price on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday. Susquehanna restated a “positive” rating and set a $90.00 target price on shares of Onsemi in a research note on Monday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Mizuho lowered their price objective on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Evercore ISI initiated coverage on Onsemi in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.28.

Onsemi Stock Performance

Shares of Onsemi stock opened at $66.38 on Friday. The business has a 50-day moving average of $73.60 and a 200 day moving average of $75.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The stock has a market capitalization of $28.53 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 6.40 and a beta of 1.80.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.21 by $0.04. The business had revenue of $2.02 billion during 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 quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, sell-side analysts forecast that Onsemi will post 4.3 earnings per share for the current year.

Onsemi Company 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.