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

DnB Asset Management AS raised its position in Onsemi (NASDAQ:ON) by 57.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 535,262 shares of the semiconductor company’s stock after acquiring an additional 195,367 shares during the quarter. DnB Asset Management AS’s holdings in Onsemi were worth $33,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in Onsemi during the 4th quarter valued at $41,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Onsemi during the third quarter valued at $43,000. Synergy Asset Management LLC bought a new stake in shares of Onsemi during the fourth quarter valued at about $51,000. Plato Investment Management Ltd acquired a new stake in Onsemi in the fourth quarter worth about $51,000. Finally, Rakuten Securities Inc. grew its position in Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 691 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. UBS Group cut their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Roth Capital set a $60.00 price objective on Onsemi in a report on Friday, March 7th. Finally, Morgan Stanley decreased their target price on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Down 6.4 %

Onsemi stock opened at $40.94 on Friday. The firm’s 50 day moving average price is $48.92 and its two-hundred day moving average price is $61.25. The firm 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 has a twelve month low of $40.62 and a twelve month high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, research analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

Onsemi Company 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.