Assetmark Inc. Boosts Stake in Onsemi (NASDAQ:ON)

Assetmark Inc. grew its stake in shares of Onsemi (NASDAQ:ON) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,495 shares of the semiconductor company’s stock after buying an additional 235 shares during the quarter. Assetmark Inc.’s holdings in Onsemi were worth $4,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ON. Geode Capital Management LLC raised its position in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC raised its position in Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after purchasing an additional 1,037,624 shares during the period. Charles Schwab Investment Management Inc. raised its position in Onsemi by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock worth $156,884,000 after purchasing an additional 83,665 shares during the period. Massachusetts Financial Services Co. MA raised its position in Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after purchasing an additional 326,734 shares during the period. Finally, Natixis Advisors LLC raised its position in Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after purchasing an additional 18,450 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Up 3.5 %

NASDAQ:ON opened at $45.40 on Friday. Onsemi has a one year low of $43.33 and a one year high of $82.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The company’s 50-day simple moving average is $53.59 and its 200 day simple moving average is $64.33. The firm has a market capitalization of $19.13 billion, a P/E ratio of 12.51, a PEG ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. As a group, analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ON. B. Riley decreased their target price on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. KeyCorp cut their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Citigroup cut their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Truist Financial cut their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, Roth Mkm cut their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.12.

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.