Onsemi (NASDAQ:ON) Shares Bought by Rakuten Securities Inc.

Rakuten Securities Inc. grew its stake in Onsemi (NASDAQ:ON) by 434.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 850 shares of the semiconductor company’s stock after buying an additional 691 shares during the period. Rakuten Securities Inc.’s holdings in Onsemi were worth $54,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Onsemi by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after buying an additional 83,665 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after buying an additional 326,734 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group reduced their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. UBS Group reduced their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price target on shares of Onsemi in a research report on Monday, March 3rd. 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.85.

Onsemi Stock Performance

Shares of ON opened at $42.85 on Thursday. The company has a 50-day simple moving average of $52.80 and a 200-day simple moving average of $63.80. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $18.06 billion, a PE ratio of 11.80, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 52-week low of $41.85 and a 52-week high of $82.33.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Equities research analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.