Rakuten Securities Inc. Takes $152,000 Position in Onsemi (NASDAQ:ON)

Rakuten Securities Inc. acquired a new stake in Onsemi (NASDAQ:ON) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,817 shares of the semiconductor company’s stock, valued at approximately $152,000.

A number of other hedge funds have also modified their holdings of ON. Moneta Group Investment Advisors LLC grew its holdings in Onsemi by 122,198.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after acquiring an additional 6,057,365 shares during the period. Norges Bank acquired a new stake in Onsemi during the fourth quarter worth about $308,064,000. Alliancebernstein L.P. grew its holdings in Onsemi by 114.5% during the fourth quarter. Alliancebernstein L.P. now owns 5,139,098 shares of the semiconductor company’s stock worth $320,526,000 after acquiring an additional 2,743,216 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Onsemi by 231.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,681,038 shares of the semiconductor company’s stock worth $303,024,000 after acquiring an additional 2,568,864 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Onsemi by 3.7% during the first quarter. Vanguard Group Inc. now owns 41,662,400 shares of the semiconductor company’s stock worth $2,608,483,000 after acquiring an additional 1,494,114 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Susquehanna reiterated a “positive” rating and set a $90.00 price objective on shares of Onsemi in a research report on Monday, April 8th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. KeyCorp lifted their price objective on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, TD Cowen raised their target price on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and an average target price of $98.52.

Onsemi Stock Down 0.4 %

Shares of NASDAQ ON opened at $64.47 on Thursday. The company has a market capitalization of $27.71 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 6.27 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The business has a 50-day moving average of $75.43 and a two-hundred day moving average of $76.75. Onsemi has a 1 year low of $61.47 and a 1 year high of $111.35.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. Onsemi’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 EPS. On average, analysts forecast that Onsemi will post 4.34 earnings per share for the current fiscal year.

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.