Assenagon Asset Management S.A. Boosts Position in onsemi $ON

Key Points

• Assenagon Asset Management increased its onsemi stake by 74.8% in the second quarter, buying 1.2 million additional shares to hold 2.81 million shares worth approximately $265.5 million. Institutional investors collectively own 97.7% of ON.
• onsemi exceeded quarterly expectations, reporting $0.74 in EPS and $1.60 billion in revenue, with revenue up 9.2% year over year. Management guided for third-quarter EPS of $0.81–$0.93, supported by demand for AI infrastructure and data-center products.
• Analyst sentiment remains mixed, with 14 Buy, 14 Hold and one Sell rating and a consensus price target of $100.62. While AI and data-center demand are potential catalysts, weakness in automotive and industrial markets continues to weigh on the outlook.

Assenagon Asset Management S.A. grew its stake in shares of onsemi (NASDAQ:ON - Free Report) by 74.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,807,808 shares of the semiconductor company's stock after buying an additional 1,201,534 shares during the period. Assenagon Asset Management S.A. owned 0.72% of onsemi worth $265,450,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ON. Kestra Private Wealth Services LLC increased its holdings in onsemi by 2.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 4,554 shares of the semiconductor company's stock worth $282,000 after acquiring an additional 125 shares during the period. Apollon Wealth Management LLC grew its position in shares of onsemi by 1.8% during the 1st quarter. Apollon Wealth Management LLC now owns 7,130 shares of the semiconductor company's stock valued at $441,000 after purchasing an additional 127 shares in the last quarter. Evexia Wealth LLC increased its holdings in shares of onsemi by 1.1% in the first quarter. Evexia Wealth LLC now owns 13,328 shares of the semiconductor company's stock worth $825,000 after purchasing an additional 142 shares during the period. Root Financial Partners LLC raised its position in shares of onsemi by 42.1% in the fourth quarter. Root Financial Partners LLC now owns 503 shares of the semiconductor company's stock worth $27,000 after buying an additional 149 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in onsemi by 2.7% during the first quarter. V Square Quantitative Management LLC now owns 5,946 shares of the semiconductor company's stock valued at $368,000 after buying an additional 157 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ON shares. Stifel Nicolaus boosted their target price on onsemi from $90.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, June 24th. Truist Financial dropped their price target on onsemi from $101.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday. B. Riley Financial cut their price objective on onsemi from $135.00 to $127.00 and set a "buy" rating for the company in a report on Tuesday. Rosenblatt Securities restated a "neutral" rating and issued a $85.00 price objective on shares of onsemi in a research report on Tuesday. Finally, Bank of America raised their target price on shares of onsemi from $115.00 to $138.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Fourteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $100.62.

onsemi Price Performance

ON opened at $78.33 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.46 and a quick ratio of 3.14. onsemi has a 1 year low of $44.56 and a 1 year high of $134.92. The firm has a market cap of $30.49 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 0.64 and a beta of 2.03. The stock's 50 day simple moving average is $101.49 and its 200 day simple moving average is $85.45.

onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The semiconductor company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. onsemi had a net margin of 10.17% and a return on equity of 14.06%. The firm's revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. As a group, analysts predict that onsemi will post 3.2 earnings per share for the current year.

Key Stories Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported second-quarter revenue of $1.60 billion and adjusted earnings of $0.74 per share, exceeding consensus estimates of $1.59 billion and $0.72, respectively. Revenue grew 9.2% year over year, and management guided for third-quarter EPS of $0.81 to $0.93, supporting expectations for continued earnings growth.
• Positive Sentiment: Management highlighted accelerating demand tied to AI infrastructure and data centers, including opportunities for power-management and intelligent-sensing products. Analysts also pointed to improving cyclical conditions and AI-related momentum as potential catalysts for the stock. ON Semiconductor rises after solid Q2
• Positive Sentiment: Zacks upgraded ON to a Rank #2, or “Buy,” citing improving earnings prospects. ON Semiconductor upgraded to Buy
• Neutral Sentiment: Analyst sentiment remains divided. Citigroup reduced its price target to $98 from $120 while maintaining a Neutral rating; TD Cowen kept a Hold rating with a $95 target, and Rosenblatt reaffirmed Neutral. These targets remain above the current trading level but signal limited conviction in a rapid recovery. onsemi receives new Citigroup price target
• Negative Sentiment: Analysts continue to flag weakness in onsemi’s automotive and industrial businesses, partially offsetting stronger data-center demand. Several firms, including Needham, Wells Fargo and B. Riley, issued cautious or pessimistic outlooks, reinforcing concerns about the pace and durability of the recovery.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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