Fisher Funds Management LTD Makes New Investment in Onsemi (NASDAQ:ON)

Fisher Funds Management LTD acquired a new stake in shares of Onsemi (NASDAQ:ON) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 68,644 shares of the semiconductor company’s stock, valued at approximately $4,340,000.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Onsemi in the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Onsemi in the third quarter valued at about $33,000. GHP Investment Advisors Inc. increased its stake in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi during the 4th quarter worth about $41,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in Onsemi during the 3rd quarter valued at approximately $43,000. 97.70% of the stock is owned by institutional investors.

Onsemi Trading Down 3.0 %

Shares of NASDAQ ON opened at $54.05 on Monday. Onsemi has a 1-year low of $46.57 and a 1-year high of $85.16. The company has a 50-day moving average of $57.39 and a two-hundred day moving average of $66.11. The company has a market cap of $22.78 billion, a PE ratio of 14.89, a P/E/G ratio of 16.74 and a beta of 1.61. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Mizuho cut their target price on shares of Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Citigroup dropped their price objective 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. Finally, Truist Financial reduced their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.16.

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.