Sterling Capital Management LLC Acquires 8,596 Shares of Onsemi (NASDAQ:ON)

Sterling Capital Management LLC lifted its holdings in shares of Onsemi (NASDAQ:ON) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 89,533 shares of the semiconductor company’s stock after buying an additional 8,596 shares during the period. Sterling Capital Management LLC’s holdings in Onsemi were worth $5,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in Onsemi in the 4th quarter worth approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onsemi in the fourth quarter worth $43,000. Synergy Asset Management LLC bought a new stake in shares of Onsemi during the 4th quarter worth $51,000. Plato Investment Management Ltd acquired a new position in Onsemi in the 4th quarter valued at $51,000. Finally, Rakuten Securities Inc. raised 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. Institutional investors own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the topic of several research analyst reports. KeyCorp lowered their price target on Onsemi from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup lowered their target price on Onsemi from $52.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial cut their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.46.

Onsemi Trading Up 0.6 %

Shares of ON stock opened at $35.08 on Friday. The company has a market capitalization of $14.81 billion, a P/E ratio of 9.66, a P/E/G ratio of 16.74 and a beta of 1.48. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $44.79 and a 200 day moving average price of $58.43.

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