Resona Asset Management Co. Ltd. Makes New Investment in Onsemi (NASDAQ:ON)

Resona Asset Management Co. Ltd. purchased a new position in shares of Onsemi (NASDAQ:ON) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 124,743 shares of the semiconductor company’s stock, valued at approximately $7,918,000.

Several other large investors also recently modified their holdings of ON. Truvestments Capital LLC raised its stake in Onsemi by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after buying an additional 207 shares during the period. Assetmark Inc. raised its position in shares of Onsemi by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after purchasing an additional 235 shares during the period. V Square Quantitative Management LLC raised its position in shares of Onsemi by 3.9% during the fourth quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 252 shares during the period. Huntington National Bank grew its position in Onsemi by 8.9% in the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 271 shares during the period. Finally, Clear Creek Financial Management LLC grew its position in Onsemi by 6.9% in the 4th quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock valued at $275,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ON. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Onsemi in a research note on Monday, March 3rd. KeyCorp dropped their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group decreased their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group dropped their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, UBS Group decreased their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Onsemi Stock Performance

Shares of ON opened at $35.08 on Tuesday. Onsemi has a 52-week low of $32.20 and a 52-week high of $80.08. The stock’s 50-day simple moving average is $46.82 and its 200 day simple moving average is $59.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Research analysts forecast 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.