NEOS Investment Management LLC Purchases 11,120 Shares of Onsemi (NASDAQ:ON)

NEOS Investment Management LLC grew its position in shares of Onsemi (NASDAQ:ON) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,677 shares of the semiconductor company’s stock after acquiring an additional 11,120 shares during the quarter. NEOS Investment Management LLC’s holdings in Onsemi were worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Onsemi by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after acquiring an additional 83,665 shares in the last quarter. Finally, Robeco Schweiz AG lifted its position in Onsemi by 16.8% in the 4th quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock valued at $77,804,000 after acquiring an additional 177,740 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Down 6.4 %

Shares of ON opened at $40.94 on Friday. The firm has a market cap of $17.25 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a fifty-two week low of $40.62 and a fifty-two week high of $80.08. 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 50-day moving average of $48.92 and a 200 day moving average of $61.25.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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, research analysts forecast that Onsemi will post 2.6 EPS for the current year.

Analyst Ratings Changes

ON has been the subject of several analyst reports. KeyCorp lowered their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Roth Capital set a $60.00 price objective on Onsemi in a research note on Friday, March 7th. UBS Group cut their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Craig Hallum lowered their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $49.00 price target on shares of Onsemi in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.