Global X Japan Co. Ltd. Has $3.43 Million Stock Position in Onsemi (NASDAQ:ON)

Global X Japan Co. Ltd. raised its position in Onsemi (NASDAQ:ON) by 49.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 50,060 shares of the semiconductor company’s stock after acquiring an additional 16,459 shares during the period. Global X Japan Co. Ltd.’s holdings in Onsemi were worth $3,432,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Onsemi by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after acquiring an additional 35,362 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Onsemi during the first quarter valued at approximately $2,447,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Onsemi by 6.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 480,948 shares of the semiconductor company’s stock worth $38,144,000 after buying an additional 27,426 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Onsemi by 690.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after buying an additional 88,496 shares during the last quarter. Finally, Norden Group LLC bought a new position in Onsemi during the 1st quarter valued at $774,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Price Performance

Onsemi stock opened at $69.39 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a one year low of $59.34 and a one year high of $99.45. The firm has a market capitalization of $29.85 billion, a P/E ratio of 14.16, a PEG ratio of 3.64 and a beta of 1.66. The business has a fifty day moving average price of $73.50 and a 200-day moving average price of $72.61.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue was down 17.2% compared to the same quarter last year. As a group, equities research analysts forecast that Onsemi will post 4.01 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 target price on shares of Onsemi in a report on Thursday, June 13th. Susquehanna lifted their target price on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Truist Financial upped their target price on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group began coverage on Onsemi in a report on Monday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi presently has a consensus rating of “Hold” and an average price target of $85.61.

Insider Activity at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

Onsemi 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.