Synergy Asset Management LLC Purchases 73,909 Shares of Onsemi (NASDAQ:ON)

Synergy Asset Management LLC grew its holdings in Onsemi (NASDAQ:ONFree Report) by 91.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 154,649 shares of the semiconductor company’s stock after acquiring an additional 73,909 shares during the quarter. Onsemi accounts for approximately 2.3% of Synergy Asset Management LLC’s holdings, making the stock its 12th largest holding. Synergy Asset Management LLC’s holdings in Onsemi were worth $12,918,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Provence Wealth Management Group purchased a new stake in Onsemi in the third quarter valued at approximately $25,000. FinTrust Capital Advisors LLC acquired a new stake in Onsemi during the 4th quarter valued at approximately $25,000. Ancora Advisors LLC acquired a new stake in shares of Onsemi in the first quarter worth $33,000. Hanseatic Management Services Inc. purchased a new position in shares of Onsemi during the third quarter worth $38,000. Finally, Headinvest LLC acquired a new position in Onsemi during the third quarter valued at $44,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

Onsemi stock opened at $73.55 on Friday. The stock has a market cap of $31.68 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 7.12 and a beta of 1.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The firm has a 50 day simple moving average of $76.74 and a 200-day simple moving average of $79.00. Onsemi has a 1-year low of $61.47 and a 1-year high of $111.35.

Onsemi (NASDAQ:ONGet Free Report) last released 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 business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.32 EPS. On average, analysts expect that Onsemi will post 4.34 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Stifel Nicolaus reiterated a “hold” rating and set a $82.00 price target on shares of Onsemi in a research report on Thursday, March 14th. Truist Financial decreased their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. KeyCorp raised their price target on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.79.

Read Our Latest Stock Analysis on ON

Onsemi Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Onsemi (NASDAQ:ON)

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