Raiffeisen Bank International AG Invests $9.67 Million in Onsemi (NASDAQ:ON)

Raiffeisen Bank International AG purchased a new position in Onsemi (NASDAQ:ON) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 152,328 shares of the semiconductor company’s stock, valued at approximately $9,667,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Norges Bank bought a new position in shares of Onsemi during the 4th quarter valued at $378,312,000. Dimensional Fund Advisors LP grew its holdings in shares of Onsemi by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after purchasing an additional 771,610 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of Onsemi by 0.7% during the 4th quarter. Capital International Investors now owns 4,214,441 shares of the semiconductor company’s stock valued at $265,737,000 after purchasing an additional 31,365 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

ON has been the topic of several recent research reports. Mizuho reduced their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Wells Fargo & Company reduced their target price on shares of Onsemi from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $42.00 target price on shares of Onsemi in a report on Tuesday, May 6th. Robert W. Baird reduced their target price on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Finally, UBS Group cut their price target on shares of Onsemi from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average price target of $54.12.

Onsemi Trading Down 1.5%

NASDAQ:ON opened at $44.52 on Friday. The company has a 50-day moving average price of $39.72 and a 200-day moving average price of $53.31. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the company posted $1.08 EPS. The company’s quarterly revenue was down 22.4% compared to the same quarter last year. Equities analysts predict that Onsemi will post 2.6 EPS for the current year.

Onsemi 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.