Polymer Capital Management HK LTD Invests $2.14 Million in Onsemi (NASDAQ:ON)

Polymer Capital Management HK LTD bought a new stake in shares of Onsemi (NASDAQ:ON) during the 4th quarter, Holdings Channel.com reports. The firm bought 34,000 shares of the semiconductor company’s stock, valued at approximately $2,144,000.

A number of other institutional investors have also recently added to or reduced their stakes in ON. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi during the fourth quarter worth about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Onsemi during the 4th quarter valued at about $43,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at about $51,000. Plato Investment Management Ltd acquired a new position in Onsemi during the 4th quarter worth approximately $51,000. Finally, Rakuten Securities Inc. boosted its holdings in Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 691 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

Shares of ON opened at $33.70 on Friday. Onsemi has a 12 month low of $33.21 and a 12 month high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock has a fifty day moving average price of $47.20 and a 200 day moving average price of $60.07. The company has a market cap of $14.20 billion, a P/E ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on ON shares. Craig Hallum dropped their price objective on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Benchmark dropped their price target on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. KeyCorp decreased their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley dropped their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup cut their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

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.