Jensen Investment Management Inc. Purchases 7,130 Shares of Onsemi (NASDAQ:ON)

Jensen Investment Management Inc. increased its position in Onsemi (NASDAQ:ON) by 17.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,840 shares of the semiconductor company’s stock after acquiring an additional 7,130 shares during the quarter. Jensen Investment Management Inc.’s holdings in Onsemi were worth $3,016,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bridgewater Associates LP lifted its position in Onsemi by 8,367.5% during the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after purchasing an additional 1,109,778 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares during the last quarter. Andra AP fonden lifted its position in Onsemi by 2,388.4% during the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock valued at $21,651,000 after purchasing an additional 329,600 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after purchasing an additional 326,734 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ON. Susquehanna dropped their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Citigroup lowered their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, February 11th. Benchmark lowered their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, Stifel Nicolaus lowered their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.85.

Onsemi Stock Up 2.5 %

Shares of Onsemi stock opened at $43.19 on Monday. Onsemi has a 1 year low of $41.59 and a 1 year high of $80.08. The company has a 50-day moving average of $51.59 and a 200 day moving average of $63.12. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 16.74 and a beta of 1.59. 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 (NASDAQ:ON) last announced 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 net margin of 22.21% and a return on equity of 20.10%. As a group, sell-side analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal year.

Onsemi 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.