BayBridge Capital Group LLC Purchases New Stake in Onsemi (NASDAQ:ON)

BayBridge Capital Group LLC purchased a new stake in Onsemi (NASDAQ:ON) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,458 shares of the semiconductor company’s stock, valued at approximately $372,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ON. Apollon Wealth Management LLC grew its position in Onsemi by 26.4% in the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after acquiring an additional 1,482 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after purchasing an additional 82,301 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Onsemi by 7.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 637 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Onsemi by 6.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 480,948 shares of the semiconductor company’s stock worth $38,144,000 after purchasing an additional 27,426 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In other news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Onsemi Stock Down 6.1 %

Shares of NASDAQ ON traded down $4.64 during mid-day trading on Thursday, hitting $71.65. 9,576,705 shares of the stock traded hands, compared to its average volume of 7,271,406. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a market cap of $30.83 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.32 and a beta of 1.78. The stock has a fifty day moving average price of $70.57 and a 200-day moving average price of $74.21.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. Research analysts anticipate that Onsemi will post 3.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ON shares. JPMorgan Chase & Co. reduced their price target on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. The Goldman Sachs Group reduced their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Benchmark reduced their target price on Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Wells Fargo & Company reduced their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $90.28.

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.