Raiffeisen Bank International AG Purchases New Holdings in Onsemi (NASDAQ:ON)

Raiffeisen Bank International AG purchased a new stake in shares of Onsemi (NASDAQ:ON) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 152,328 shares of the semiconductor company’s stock, valued at approximately $9,667,000.

Other large investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new position in Onsemi during the 4th quarter valued at about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Onsemi during the 4th quarter valued at about $43,000. Synergy Asset Management LLC purchased a new position in Onsemi in the fourth quarter worth about $51,000. Plato Investment Management Ltd purchased a new position in Onsemi in the fourth quarter worth about $51,000. Finally, Rakuten Securities Inc. raised its holdings in Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after buying an additional 691 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ON. Benchmark decreased their target price on shares of Onsemi from $60.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Citigroup decreased their target price on shares of Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, April 11th. B. Riley cut shares of Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Thursday, April 24th. Jefferies Financial Group decreased their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Mizuho decreased their target price on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi has a consensus rating of “Moderate Buy” and an average target price of $54.12.

Onsemi Stock Down 1.5%

ON opened at $44.52 on Friday. 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 has a 50 day moving average price of $39.72 and a 200-day moving average price of $53.31. Onsemi has a twelve month low of $31.04 and a twelve month high of $80.08. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The firm’s revenue was down 22.4% on a year-over-year basis. Equities research analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

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.