Intact Investment Management Inc. Boosts Stock Position in Onsemi (NASDAQ:ON)

Intact Investment Management Inc. lifted its stake in Onsemi (NASDAQ:ON) by 37.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,100 shares of the semiconductor company’s stock after buying an additional 4,350 shares during the quarter. Intact Investment Management Inc.’s holdings in Onsemi were worth $1,015,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Truvestments Capital LLC boosted its stake in shares of Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after buying an additional 207 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Onsemi by 0.3% in the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after buying an additional 235 shares during the last quarter. Metis Global Partners LLC raised its holdings in Onsemi by 1.8% in the 3rd quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company’s stock worth $996,000 after purchasing an additional 237 shares during the period. V Square Quantitative Management LLC raised its holdings in Onsemi by 3.9% in the 4th 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 period. Finally, Clear Creek Financial Management LLC raised its holdings in Onsemi by 6.9% in the 4th quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock worth $275,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 2.5 %

Shares of Onsemi stock opened at $43.19 on Friday. The firm has a market capitalization of $18.20 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a fifty-two week low of $41.59 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 stock has a 50 day moving average of $52.01 and a 200 day moving average of $63.51.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. As a group, research analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. UBS Group reduced their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Craig Hallum reduced their price target on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company reduced their price target on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Finally, Susquehanna reduced their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.85.

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.