The Manufacturers Life Insurance Company raised its holdings in shares of Onsemi (NASDAQ:ON – Free Report) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 421,637 shares of the semiconductor company’s stock after acquiring an additional 65,846 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of Onsemi worth $39,213,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Provence Wealth Management Group acquired a new position in shares of Onsemi in the 3rd quarter valued at $25,000. FinTrust Capital Advisors LLC acquired a new position in shares of Onsemi in the 4th quarter valued at $25,000. Ancora Advisors LLC acquired a new position in shares of Onsemi in the 1st quarter valued at $33,000. Hanseatic Management Services Inc. acquired a new position in shares of Onsemi in the 3rd quarter valued at $38,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Onsemi in the 3rd quarter valued at $45,000. 96.36% of the stock is currently owned by institutional investors and hedge funds.
Onsemi Price Performance
Onsemi stock opened at $78.95 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a 52-week low of $61.47 and a 52-week high of $111.35. The company has a fifty day simple moving average of $76.78 and a 200-day simple moving average of $81.20. The firm has a market capitalization of $34.00 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 7.65 and a beta of 1.81.
Onsemi (NASDAQ:ON – Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. Onsemi’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts anticipate that Onsemi will post 4.34 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Truist Financial decreased their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. KeyCorp upped their price objective on shares of Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of Onsemi from $72.00 to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.92.
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.