Talos Asset Management LP Takes Position in Onsemi (NASDAQ:ON)

Talos Asset Management LP purchased a new stake in Onsemi (NASDAQ:ON) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 211,385 shares of the semiconductor company’s stock, valued at approximately $13,328,000. Onsemi accounts for about 3.1% of Talos Asset Management LP’s portfolio, making the stock its 15th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas lifted its holdings in Onsemi by 39.2% during the 4th quarter. Teacher Retirement System of Texas now owns 4,010 shares of the semiconductor company’s stock worth $253,000 after buying an additional 1,129 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in Onsemi by 2.2% during the 4th quarter. Royal London Asset Management Ltd. now owns 171,244 shares of the semiconductor company’s stock worth $10,797,000 after buying an additional 3,666 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Onsemi by 16.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 25,067 shares of the semiconductor company’s stock worth $1,581,000 after buying an additional 3,527 shares in the last quarter. West Tower Group LLC lifted its holdings in Onsemi by 75.0% during the 4th quarter. West Tower Group LLC now owns 3,500 shares of the semiconductor company’s stock worth $221,000 after buying an additional 1,500 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Onsemi during the 4th quarter worth approximately $205,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ON. Mizuho reduced their target price on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Citigroup reduced their target price on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Truist Financial reduced their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. KeyCorp reduced their price objective on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $49.00 price objective on shares of Onsemi in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.85.

Onsemi Trading Up 0.4 %

Shares of Onsemi stock opened at $43.58 on Thursday. Onsemi has a 1 year low of $41.59 and a 1 year 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 company has a market capitalization of $18.37 billion, a P/E ratio of 12.01, a PEG ratio of 16.74 and a beta of 1.59. The company’s fifty day moving average is $50.50 and its two-hundred day moving average is $62.52.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (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%. Analysts forecast that Onsemi will post 2.6 earnings per share for the current 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.