Sumitomo Mitsui DS Asset Management Company Ltd Acquires 507 Shares of Onsemi (NASDAQ:ON)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Onsemi (NASDAQ:ON) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,516 shares of the semiconductor company’s stock after buying an additional 507 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Onsemi were worth $3,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Provence Wealth Management Group bought a new stake in Onsemi in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Onsemi during the fourth quarter worth approximately $32,000. Hanseatic Management Services Inc. bought a new position in shares of Onsemi during the third quarter worth approximately $38,000. Headinvest LLC bought a new position in shares of Onsemi during the third quarter worth approximately $44,000. Finally, First Pacific Financial bought a new position in shares of Onsemi during the third quarter worth approximately $45,000. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ON. Stifel Nicolaus lowered their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. JPMorgan Chase & Co. lowered their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Morgan Stanley lowered their price objective on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday. BNP Paribas restated an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. Finally, Truist Financial lowered their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.28.

Onsemi Trading Up 1.7 %

NASDAQ ON opened at $61.68 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a market cap of $26.51 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. The business’s fifty day moving average is $73.93 and its 200 day moving average is $75.84.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the business posted $1.32 EPS. Onsemi’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Onsemi will post 4.3 EPS for the current fiscal 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.