Canada Pension Plan Investment Board Grows Stock Position in Onsemi (NASDAQ:ON)

Canada Pension Plan Investment Board boosted its stake in shares of Onsemi (NASDAQ:ON) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,463 shares of the semiconductor company’s stock after acquiring an additional 5,271 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Onsemi were worth $7,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Westside Investment Management Inc. raised its stake in shares of Onsemi by 67.9% during the third quarter. Westside Investment Management Inc. now owns 940 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 380 shares during the last quarter. World Investment Advisors LLC bought a new position in Onsemi during the 3rd quarter valued at approximately $1,087,000. Wilmington Savings Fund Society FSB purchased a new stake in Onsemi in the 3rd quarter worth approximately $389,000. Nordea Investment Management AB grew its position in shares of Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after buying an additional 82,614 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in shares of Onsemi by 61.0% during the fourth quarter. Fulton Bank N.A. now owns 4,640 shares of the semiconductor company’s stock valued at $293,000 after buying an additional 1,758 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $34.74 on Tuesday. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08. The stock has a market capitalization of $14.66 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average price is $42.97 and its 200-day moving average price is $56.78.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 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%. Equities research analysts expect that Onsemi will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ON. Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Truist Financial decreased their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Roth Mkm decreased their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Benchmark reduced their target price on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.52.

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.