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

GAMMA Investing LLC acquired a new position in Onsemi (NASDAQ:ON) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,682 shares of the semiconductor company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ballentine Partners LLC grew its position in shares of Onsemi by 1.7% in the third quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company’s stock valued at $731,000 after purchasing an additional 134 shares during the period. Private Trust Co. NA boosted its position in Onsemi by 13.2% during the third quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 149 shares during the last quarter. Slow Capital Inc. boosted its position in Onsemi by 0.4% during the third quarter. Slow Capital Inc. now owns 40,154 shares of the semiconductor company’s stock worth $3,732,000 after acquiring an additional 157 shares during the last quarter. Lindbrook Capital LLC boosted its position in Onsemi by 10.8% during the third quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company’s stock worth $165,000 after acquiring an additional 173 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in Onsemi by 7.7% during the fourth quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. Wells Fargo & Company reduced their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Mizuho reduced their target price on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $95.28.

Onsemi Stock Performance

Shares of ON opened at $66.38 on Friday. The company has a 50-day simple moving average of $73.60 and a 200-day simple moving average 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 capitalization 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 issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 EPS. Equities research analysts predict that Onsemi will post 4.3 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.