abrdn plc Grows Position in Onsemi (NASDAQ:ON)

abrdn plc lifted its position in Onsemi (NASDAQ:ON) by 37.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,763 shares of the semiconductor company’s stock after buying an additional 54,464 shares during the quarter. abrdn plc’s holdings in Onsemi were worth $16,770,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ON. Invesco Ltd. boosted its position in shares of Onsemi by 26.0% in the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after acquiring an additional 1,200,723 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Onsemi by 55.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock valued at $195,124,000 after purchasing an additional 828,944 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Onsemi by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after purchasing an additional 817,237 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Onsemi during the third quarter valued at approximately $28,927,000. Finally, QRG Capital Management Inc. bought a new stake in Onsemi during the third quarter valued at approximately $22,883,000. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Performance

Shares of Onsemi stock opened at $65.53 on Thursday. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 6.02 and a beta of 1.80. The firm’s 50-day moving average is $73.93 and its 200 day moving average is $75.84. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74.

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 for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. Sell-side analysts anticipate that Onsemi will post 4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Truist Financial decreased their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. The Goldman Sachs Group decreased their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Stifel Nicolaus decreased their target price on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Finally, KeyCorp lifted their target price on shares of Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. One research 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, Onsemi has a consensus rating of “Moderate Buy” and a consensus price target of $95.28.

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.