Onsemi (NASDAQ:ON) Holdings Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its position in shares of Onsemi (NASDAQ:ON) by 207.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 505,674 shares of the semiconductor company’s stock after purchasing an additional 341,109 shares during the period. Nomura Asset Management Co. Ltd. owned 0.12% of Onsemi worth $42,239,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Provence Wealth Management Group acquired a new stake in shares of Onsemi in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Onsemi during the 4th quarter worth about $32,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Onsemi during the 4th quarter worth about $33,000. Private Wealth Management Group LLC acquired a new position in shares of Onsemi during the 4th quarter worth about $33,000. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Onsemi during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ON. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Benchmark lowered their price objective on Onsemi from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Truist Financial reduced their target price on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Wells Fargo & Company reduced their price objective on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Mizuho reduced their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.28.

Onsemi Stock Performance

Shares of ON traded up $0.91 during mid-day trading on Friday, hitting $72.56. 5,172,367 shares of the company’s stock were exchanged, compared to its average volume of 6,723,057. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The stock’s 50-day simple moving average is $70.41 and its 200-day simple moving average is $74.29. The firm has a market cap of $31.22 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 3.26 and a beta of 1.78. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. On average, equities research analysts expect that Onsemi will post 3.83 EPS for the current year.

Insiders Place Their Bets

In other news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

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.