National Bank of Canada FI Boosts Position in Onsemi (NASDAQ:ON)

National Bank of Canada FI grew its position in Onsemi (NASDAQ:ON) by 87.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,971 shares of the semiconductor company’s stock after buying an additional 196,875 shares during the quarter. National Bank of Canada FI owned 0.10% of Onsemi worth $34,153,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ON. Provence Wealth Management Group purchased a new position in Onsemi during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi in the fourth quarter valued at approximately $32,000. Hanseatic Management Services Inc. acquired a new position in Onsemi during the third quarter worth approximately $38,000. Headinvest LLC purchased a new position in Onsemi during the third quarter worth approximately $44,000. Finally, Planned Solutions Inc. acquired a new position in shares of Onsemi in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Susquehanna reduced their target price on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Tuesday, April 30th. Roth Mkm upped their price target on shares of Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Mizuho reduced their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company lowered their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average target price of $90.24.

Onsemi Stock Down 0.7 %

ON traded down $0.49 during midday trading on Monday, hitting $69.88. 2,617,782 shares of the company’s stock traded hands, compared to its average volume of 7,493,255. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The company has a market cap of $30.06 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 3.18 and a beta of 1.78. Onsemi has a one year low of $59.34 and a one year high of $111.35. The stock’s fifty day simple moving average is $72.35 and its 200-day simple moving average is $74.54.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. As a group, equities analysts anticipate that Onsemi will post 3.86 earnings per share for the current fiscal 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.