Vanguard Group Inc. Purchases 344,354 Shares of Onsemi (NASDAQ:ON)

Vanguard Group Inc. boosted its position in shares of Onsemi (NASDAQ:ON) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,135,303 shares of the semiconductor company’s stock after purchasing an additional 344,354 shares during the quarter. Vanguard Group Inc. owned about 12.01% of Onsemi worth $3,224,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in shares of Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after purchasing an additional 82,614 shares during the last quarter. Cinctive Capital Management LP bought a new position in Onsemi during the third quarter worth about $1,270,000. Blue Trust Inc. grew its position in shares of Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after buying an additional 1,119 shares during the period. Oak Thistle LLC bought a new stake in shares of Onsemi in the 4th quarter valued at about $515,000. Finally, Deltec Asset Management LLC acquired a new stake in shares of Onsemi in the 4th quarter valued at approximately $6,343,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

NASDAQ ON opened at $45.31 on Wednesday. The stock has a market cap of $19.09 billion, a PE ratio of 12.48, a P/E/G ratio of 16.74 and a beta of 1.59. 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 firm has a 50-day moving average of $49.59 and a 200-day moving average of $61.69. Onsemi has a 52-week low of $41.59 and a 52-week high of $80.08.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on ON shares. Roth Capital set a $60.00 target price on shares of Onsemi in a research note on Friday, March 7th. KeyCorp dropped their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Onsemi in a research report on Monday, March 3rd. Finally, Mizuho decreased their price objective on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average price target of $66.50.

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.