GraniteShares Advisors LLC Makes New Investment in Onsemi (NASDAQ:ON)

GraniteShares Advisors LLC bought a new position in Onsemi (NASDAQ:ON) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 8,183 shares of the semiconductor company’s stock, valued at approximately $516,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Todd Asset Management LLC increased its position in shares of Onsemi by 1.1% during the 4th quarter. Todd Asset Management LLC now owns 464,187 shares of the semiconductor company’s stock valued at $29,267,000 after purchasing an additional 5,202 shares during the last quarter. Sentry Investment Management LLC increased its position in shares of Onsemi by 6.7% during the 4th quarter. Sentry Investment Management LLC now owns 7,655 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 478 shares during the last quarter. IFP Advisors Inc increased its position in shares of Onsemi by 9.5% during the 4th quarter. IFP Advisors Inc now owns 7,814 shares of the semiconductor company’s stock valued at $493,000 after purchasing an additional 675 shares during the last quarter. MONECO Advisors LLC increased its position in shares of Onsemi by 5.4% during the 4th quarter. MONECO Advisors LLC now owns 17,266 shares of the semiconductor company’s stock valued at $1,089,000 after purchasing an additional 883 shares during the last quarter. Finally, Howard Capital Management Inc. increased its position in shares of Onsemi by 3.1% during the 4th quarter. Howard Capital Management Inc. now owns 12,560 shares of the semiconductor company’s stock valued at $792,000 after purchasing an additional 372 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Performance

Shares of ON opened at $51.22 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a one year low of $46.57 and a one year high of $85.16. The firm has a market capitalization of $21.59 billion, a P/E ratio of 14.11, a PEG ratio of 16.74 and a beta of 1.62. The business has a fifty day moving average of $56.80 and a 200 day moving average of $65.84.

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, sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ON. JPMorgan Chase & Co. reduced their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. UBS Group dropped their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. B. Riley dropped their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Truist Financial dropped their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Finally, Robert W. Baird increased their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.16.

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.