Easterly Investment Partners LLC Buys New Shares in Onsemi (NASDAQ:ON)

Easterly Investment Partners LLC purchased a new stake in shares of Onsemi (NASDAQ:ON) during the fourth quarter, HoldingsChannel reports. The fund purchased 68,758 shares of the semiconductor company’s stock, valued at approximately $4,335,000.

Several other large investors have also made changes to their positions in the business. Truvestments Capital LLC grew its stake in Onsemi by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 207 shares in the last quarter. Assetmark Inc. grew its position in shares of Onsemi by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock valued at $4,949,000 after purchasing an additional 235 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Onsemi by 3.9% in the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 252 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Onsemi by 6.9% in the fourth quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock worth $275,000 after buying an additional 282 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in Onsemi by 9.9% during the fourth quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 297 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ON has been the topic of a number of research reports. Morgan Stanley reduced their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 11th. Truist Financial lowered their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Jefferies Financial Group reduced their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price target on shares of Onsemi in a report on Monday, March 3rd. Finally, UBS Group reduced their price objective on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Price Performance

Shares of ON stock opened at $45.04 on Thursday. Onsemi has a twelve month low of $41.59 and a twelve month high of $80.08. 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 stock has a fifty day simple moving average of $49.39 and a two-hundred day simple moving average of $61.58. The stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, analysts predict 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.