Nissay Asset Management Corp Japan ADV Grows Stock Holdings in Onsemi (NASDAQ:ON)

Nissay Asset Management Corp Japan ADV raised its position in Onsemi (NASDAQ:ON) by 4.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 188,736 shares of the semiconductor company’s stock after purchasing an additional 7,674 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Onsemi were worth $12,458,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi during the fourth quarter valued at about $41,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Onsemi during the fourth quarter valued at about $43,000. Synergy Asset Management LLC purchased a new position in shares of Onsemi during the fourth quarter valued at about $51,000. Plato Investment Management Ltd purchased a new position in shares of Onsemi during the fourth quarter valued at about $51,000. Finally, Rakuten Securities Inc. increased its position in shares of Onsemi by 434.6% during the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 691 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 1.2%

Shares of NASDAQ ON opened at $45.20 on Thursday. The firm’s 50 day moving average price is $39.72 and its 200-day moving average price is $53.50. The company has a market cap of $18.89 billion, a PE ratio of 12.45, a P/E/G ratio of 16.74 and a beta of 1.39. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. On average, equities research analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reduced their price target on shares of Onsemi from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Rosenblatt Securities reiterated a “neutral” rating and set a $42.00 price target on shares of Onsemi in a research report on Tuesday, May 6th. Craig Hallum dropped their price objective on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Finally, Benchmark dropped their price objective on shares of Onsemi from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.12.

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.