Machina Capital S.A.S. Boosts Stock Holdings in Onsemi (NASDAQ:ON)

Machina Capital S.A.S. increased its stake in Onsemi (NASDAQ:ON) by 327.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,566 shares of the semiconductor company’s stock after buying an additional 9,624 shares during the period. Machina Capital S.A.S.’s holdings in Onsemi were worth $792,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ON. Capital Performance Advisors LLP purchased a new position in shares of Onsemi in the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Onsemi in the 3rd quarter worth about $33,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi in the 4th quarter worth about $41,000. Safe Harbor Fiduciary LLC purchased a new stake in Onsemi during the third quarter valued at about $43,000. Finally, Synergy Asset Management LLC purchased a new stake in Onsemi during the fourth quarter valued at about $51,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

ON opened at $45.40 on Friday. The stock has a fifty day simple moving average of $53.59 and a two-hundred day simple moving average of $64.33. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a 12-month low of $43.33 and a 12-month high of $82.65.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Research analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ON. The Goldman Sachs Group dropped their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. B. Riley dropped their price objective on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus dropped their price objective 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. Susquehanna dropped their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. Finally, Loop Capital began coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.12.

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.