GAMMA Investing LLC Invests $224,000 in Onsemi (NASDAQ:ON)

GAMMA Investing LLC bought a new position in Onsemi (NASDAQ:ON) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,682 shares of the semiconductor company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Provence Wealth Management Group bought a new position in shares of Onsemi in the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Onsemi in the 4th quarter worth $32,000. Hanseatic Management Services Inc. acquired a new position in Onsemi during the 3rd quarter valued at about $38,000. Headinvest LLC acquired a new position in Onsemi during the 3rd quarter valued at about $44,000. Finally, First Pacific Financial acquired a new position in Onsemi during the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ON shares. KeyCorp increased their price objective on Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday, February 6th. Susquehanna reissued a “positive” rating and issued a $90.00 price objective on shares of Onsemi in a report on Monday, April 8th. Stifel Nicolaus lowered their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Finally, Morgan Stanley lowered 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.28.

Onsemi Stock Up 1.3 %

ON opened at $66.38 on Friday. The business has a 50 day moving average price of $73.60 and a two-hundred day moving average price of $75.77. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a market cap of $28.53 billion, a PE ratio of 13.57, a P/E/G ratio of 6.40 and a beta of 1.80. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. As a group, research analysts anticipate that Onsemi will post 4.3 EPS 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.