Teza Capital Management LLC Invests $304,000 in Onsemi (NASDAQ:ON)

Teza Capital Management LLC acquired a new stake in Onsemi (NASDAQ:ON) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,819 shares of the semiconductor company’s stock, valued at approximately $304,000.

Several other hedge funds also recently bought and sold shares of ON. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi in the fourth quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Onsemi in the 4th quarter worth $43,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at $51,000. Plato Investment Management Ltd bought a new stake in shares of Onsemi during the 4th quarter worth $51,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of ON stock opened at $44.26 on Wednesday. The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 16.74 and a beta of 1.39. The stock has a fifty day moving average of $39.83 and a 200 day moving average of $52.59. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The company’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. As a group, research analysts expect that Onsemi will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

ON has been the topic of a number of research reports. Rosenblatt Securities restated a “neutral” rating and set a $42.00 price target on shares of Onsemi in a research report on Tuesday, May 6th. UBS Group decreased their price objective on Onsemi from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Susquehanna dropped their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC reduced their price target on shares of Onsemi from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Onsemi from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.12.

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.