Onsemi (NASDAQ:ON) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS grew its position in shares of Onsemi (NASDAQ:ON) by 57.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,262 shares of the semiconductor company’s stock after purchasing an additional 195,367 shares during the period. DnB Asset Management AS owned 0.13% of Onsemi worth $33,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in Onsemi during the fourth quarter worth about $41,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Onsemi during the 3rd quarter worth about $43,000. Synergy Asset Management LLC acquired a new stake in shares of Onsemi in the fourth quarter worth approximately $51,000. Plato Investment Management Ltd purchased a new stake in Onsemi in the fourth quarter valued at approximately $51,000. Finally, Rakuten Securities Inc. raised its stake in Onsemi by 434.6% during the fourth 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. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ON shares. B. Riley dropped their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a report on Monday, March 3rd. Jefferies Financial Group decreased their target price on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Morgan Stanley cut their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. Finally, Citigroup decreased their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Two 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Performance

Onsemi stock opened at $40.94 on Friday. 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 has a 12 month low of $40.62 and a 12 month high of $80.08. The company has a fifty day moving average price of $48.92 and a two-hundred day moving average price of $61.25. The company has a market cap of $17.25 billion, a PE ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. Research analysts expect that Onsemi will post 2.6 earnings per share for the current 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.