PKO Investment Management Joint Stock Co Increases Position in Onsemi (NASDAQ:ON)

PKO Investment Management Joint Stock Co increased its position in Onsemi (NASDAQ:ON) by 33.3% in the first quarter, HoldingsChannel.com reports. The fund owned 80,000 shares of the semiconductor company’s stock after buying an additional 20,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Onsemi were worth $3,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Rakuten Securities Inc. boosted its holdings in shares of Onsemi by 61.9% in the 1st quarter. Rakuten Securities Inc. now owns 1,376 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 526 shares during the last quarter. Grimes & Company Inc. acquired a new position in Onsemi during the first quarter valued at $288,000. QRG Capital Management Inc. boosted its holdings in Onsemi by 16.5% in the first quarter. QRG Capital Management Inc. now owns 43,629 shares of the semiconductor company’s stock valued at $1,775,000 after purchasing an additional 6,186 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Onsemi during the 1st quarter worth about $222,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Onsemi by 43.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 74,104 shares of the semiconductor company’s stock valued at $3,015,000 after buying an additional 22,351 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

Onsemi stock opened at $53.88 on Tuesday. The company has a fifty day simple moving average of $42.29 and a 200-day simple moving average of $49.51. The firm has a market capitalization of $22.52 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 16.74 and a beta of 1.39. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Onsemi’s revenue was down 22.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 EPS. On average, equities analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Onsemi from $60.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. TD Cowen raised their price objective on shares of Onsemi from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Mizuho lowered their price target on shares of Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. KeyCorp cut their price objective on shares of Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, B. Riley lowered Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Thursday, April 24th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.72.

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.