MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Onsemi (NASDAQ:ON)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Onsemi (NASDAQ:ON) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,282 shares of the semiconductor company’s stock after buying an additional 14,400 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.11% of Onsemi worth $30,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi in the fourth quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Onsemi during the 4th quarter worth $43,000. Synergy Asset Management LLC acquired a new position in Onsemi during the 4th quarter worth $51,000. Plato Investment Management Ltd acquired a new position in Onsemi during the 4th quarter worth $51,000. Finally, Rakuten Securities Inc. grew its stake in 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 in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Up 2.6%

Shares of NASDAQ ON opened at $45.77 on Wednesday. The stock has a market cap of $19.13 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The business has a 50-day moving average price of $39.72 and a 200 day moving average price of $53.56.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The business’s revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. Equities research analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on ON shares. Rosenblatt Securities reissued a “neutral” rating and set a $42.00 target price on shares of Onsemi in a research note on Tuesday, May 6th. Robert W. Baird lowered their target price on Onsemi from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Loop Capital lowered their target price on Onsemi from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Benchmark lowered their target price on Onsemi from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Mizuho lowered their price objective on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.12.

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.