Aster Capital Management DIFC Ltd Invests $345,000 in Onsemi (NASDAQ:ON)

Aster Capital Management DIFC Ltd purchased a new position in shares of Onsemi (NASDAQ:ON) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,478 shares of the semiconductor company’s stock, valued at approximately $345,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi during the 4th quarter worth approximately $41,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Onsemi in the fourth quarter worth $43,000. Synergy Asset Management LLC acquired a new stake in Onsemi in the fourth quarter valued at $51,000. Plato Investment Management Ltd purchased a new stake in shares of Onsemi during the 4th quarter worth $51,000. Finally, Rakuten Securities Inc. grew its stake 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 purchasing an additional 691 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Down 5.2 %

Shares of NASDAQ:ON opened at $33.70 on Monday. 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 firm has a market cap of $14.20 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48. The stock’s 50-day moving average price is $47.20 and its two-hundred day moving average price is $60.00. Onsemi has a 12-month low of $32.52 and a 12-month high of $80.08.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (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%. On average, research analysts forecast that Onsemi will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ON shares. Wells Fargo & Company decreased their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Citigroup decreased their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley dropped their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, February 11th. Benchmark decreased their target price on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group dropped their price target on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

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.