Daiwa Securities Group Inc. Boosts Stock Position in Onsemi (NASDAQ:ON)

Daiwa Securities Group Inc. lifted its stake in Onsemi (NASDAQ:ON) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 166,825 shares of the semiconductor company’s stock after acquiring an additional 14,229 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Onsemi were worth $10,518,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

ON has been the topic of several recent research reports. UBS Group cut their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Citigroup decreased their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company decreased their price target on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Roth Capital set a $60.00 price objective on Onsemi in a report on Friday. Finally, Stifel Nicolaus dropped their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.85.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $42.86 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The business’s fifty day moving average price is $52.80 and its two-hundred day moving average price is $63.80. The stock has a market cap of $18.06 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a one year low of $41.85 and a one year high of $82.65.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 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%. On average, analysts forecast that Onsemi will post 2.6 EPS 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.