Grand Alliance Asset Management Ltd Takes $12.53 Million Position in Onsemi (NASDAQ:ON)

Grand Alliance Asset Management Ltd bought a new stake in shares of Onsemi (NASDAQ:ONFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 150,000 shares of the semiconductor company’s stock, valued at approximately $12,530,000. Onsemi comprises about 6.7% of Grand Alliance Asset Management Ltd’s investment portfolio, making the stock its 7th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Provence Wealth Management Group purchased a new position in Onsemi in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi during the fourth quarter valued at $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in Onsemi during the fourth quarter valued at $33,000. Hanseatic Management Services Inc. purchased a new stake in shares of Onsemi in the third quarter valued at $38,000. Finally, Headinvest LLC purchased a new stake in shares of Onsemi in the third quarter valued at $44,000. Institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Cowen reduced their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Susquehanna reduced their price target on Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Tuesday, April 30th. B. Riley reissued a “buy” rating and set a $103.00 price target (down previously from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. Benchmark cut their target price on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Mizuho decreased their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Read Our Latest Stock Analysis on Onsemi

Onsemi Stock Performance

NASDAQ ON traded down $0.80 during mid-day trading on Friday, reaching $70.46. 3,669,913 shares of the stock were exchanged, compared to its average volume of 8,025,740. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The business’s 50 day moving average is $71.58 and its 200-day moving average is $74.18. The company has a market capitalization of $30.31 billion, a P/E ratio of 14.38, a P/E/G ratio of 3.22 and a beta of 1.78. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35.

Onsemi (NASDAQ:ONGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. On average, equities research analysts forecast that Onsemi will post 3.86 EPS for the current fiscal year.

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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