Rakuten Investment Management Inc. Acquires 14,771 Shares of onsemi $ON

Rakuten Investment Management Inc. boosted its holdings in shares of onsemi (NASDAQ:ON) by 12.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 129,575 shares of the semiconductor company’s stock after buying an additional 14,771 shares during the quarter. Rakuten Investment Management Inc.’s holdings in onsemi were worth $9,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Engineers Gate Manager LP grew its position in shares of onsemi by 570.3% during the 2nd quarter. Engineers Gate Manager LP now owns 304,377 shares of the semiconductor company’s stock valued at $28,776,000 after acquiring an additional 258,968 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of onsemi by 20.8% in the 3rd quarter. Iridian Asset Management LLC CT now owns 88,134 shares of the semiconductor company’s stock worth $6,775,000 after purchasing an additional 15,155 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of onsemi in the 3rd quarter worth $10,637,000. Baird Financial Group Inc. bought a new position in onsemi in the 2nd quarter worth $680,000. Finally, First Citizens Bank & Trust Co. bought a new position in onsemi in the 3rd quarter worth $635,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ON. Seaport Research Partners initiated coverage on onsemi in a research report on Tuesday, September 22nd. They set a “buy” rating and a $100.00 target price on the stock. Citigroup reduced their price target on onsemi from $98.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday. Stifel Nicolaus upped their price target on onsemi from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, October 5th. Robert W. Baird raised their price objective on onsemi from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised onsemi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, onsemi has an average rating of “Moderate Buy” and an average price target of $95.03.

Insider Activity at onsemi

In related news, insider Sudhir Gopalswamy sold 15,578 shares of onsemi stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,246,240.00. Following the completion of the transaction, the insider owned 158,177 shares in the company, valued at approximately $12,654,160. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.35% of the company’s stock.

Key onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported its fourth consecutive earnings beat, while data-center sales reportedly surged 175%. The company’s planned $600 million acquisition of Ferric is intended to strengthen its power-delivery technology for AI processors. Onsemi AI data-center sales and valuation
• Neutral Sentiment: Investors are weighing whether fast-growing AI demand can become a durable growth driver for onsemi, or whether it is insufficient to offset weakness elsewhere in the business.
• Negative Sentiment: Semiconductor peers also fell in a post-midterm retreat from AI-chip stocks, adding sector-wide pressure despite no new company-specific negative catalyst reported for onsemi. AI-chip stocks slide
• Negative Sentiment: Reports that onsemi is delaying some automakers’ inventory restocking while prioritizing AI and industrial customers raise concerns about near-term auto demand. Several analysts have also taken a more cautious view, including Mizuho and Goldman Sachs, which lowered expectations for the stock. Onsemi delays auto restocking as AI sales jump Mizuho forecast

onsemi Stock Down 11.6%

Shares of ON stock opened at $63.01 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.55 and a quick ratio of 2.49. onsemi has a one year low of $44.56 and a one year high of $134.92. The company’s fifty day moving average price is $74.45 and its 200-day moving average price is $82.14. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 0.57 and a beta of 2.11.

onsemi (NASDAQ:ON) last issued its earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. onsemi had a net margin of 10.82% and a return on equity of 15.53%. onsemi’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Sell-side analysts expect that onsemi will post 3.27 EPS 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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.