MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in Onsemi (NASDAQ:ON)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Onsemi (NASDAQ:ON) by 3.1% in the 4th quarter, Holdings Channel reports. The fund owned 478,282 shares of the semiconductor company’s stock after acquiring an additional 14,400 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Onsemi were worth $30,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in shares of Onsemi by 5.8% in the 4th quarter. Czech National Bank now owns 92,322 shares of the semiconductor company’s stock worth $5,821,000 after acquiring an additional 5,062 shares during the period. Oak Thistle LLC acquired a new stake in shares of Onsemi in the 4th quarter worth approximately $515,000. Park Avenue Securities LLC grew its holdings in shares of Onsemi by 14.8% in the 4th quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company’s stock worth $599,000 after acquiring an additional 1,221 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Onsemi by 20.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company’s stock worth $274,000 after acquiring an additional 722 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Onsemi by 40.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company’s stock worth $1,763,000 after acquiring an additional 8,043 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ON has been the topic of a number of analyst reports. Roth Mkm lowered their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Mizuho lowered their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. KeyCorp decreased their price objective on Onsemi from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. B. Riley cut Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price objective on Onsemi from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.12.

Onsemi Trading Up 2.6%

NASDAQ:ON opened at $45.77 on Wednesday. The business’s 50-day moving average is $39.72 and its two-hundred day moving average is $53.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08. The firm has a market capitalization of $19.13 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

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