Tokio Marine Asset Management Co. Ltd. Raises Stock Holdings in Onsemi (NASDAQ:ON)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Onsemi (NASDAQ:ON) by 11.6% during the fourth quarter, Holdings Channel reports. The firm owned 11,246 shares of the semiconductor company’s stock after buying an additional 1,168 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Onsemi were worth $939,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its holdings in shares of Onsemi by 1.7% during the 3rd quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company’s stock valued at $731,000 after buying an additional 134 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Onsemi by 13.2% during the 3rd quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company’s stock valued at $119,000 after acquiring an additional 149 shares during the last quarter. Slow Capital Inc. boosted its holdings in shares of Onsemi by 0.4% during the 3rd quarter. Slow Capital Inc. now owns 40,154 shares of the semiconductor company’s stock valued at $3,732,000 after acquiring an additional 157 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Onsemi by 10.8% in the 3rd quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 173 shares during the period. Finally, Perigon Wealth Management LLC lifted its stake in shares of Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after purchasing an additional 177 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Roth Mkm raised their target price on shares of Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Truist Financial cut their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Mizuho dropped their price objective on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Susquehanna reaffirmed a “positive” rating and set a $90.00 price objective on shares of Onsemi in a research note on Monday, April 8th. Finally, Stifel Nicolaus lowered their target price on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.28.

Onsemi Price Performance

Shares of ON stock opened at $68.06 on Friday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The firm has a market capitalization of $29.26 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 6.55 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The stock’s 50-day simple moving average is $73.32 and its 200-day simple moving average is $75.70.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that Onsemi will post 4.26 earnings per share for the current fiscal year.

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.