Mirae Asset Global Investments Co. Ltd. Makes New $59.58 Million Investment in onsemi $ON

Key Points

• Mirae Asset Global Investments purchased 775,058 onsemi shares worth approximately $59.6 million, giving it a roughly 0.20% stake. Institutional investors collectively own 97.70% of the company.
• Analysts see potential support from AI data centers, automotive demand and energy investments, while onsemi is reportedly considering an approximately $1 billion acquisition of AI power-chip startup Ferric. The potential deal remains unconfirmed and could carry execution and capital-allocation risks.
• onsemi has a consensus “Moderate Buy” rating with an average price target of $92.68, though several analysts recently lowered their targets. Shares opened at $71.67, and the company’s latest quarterly results modestly exceeded earnings and revenue expectations.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in onsemi (NASDAQ:ON - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 775,058 shares of the semiconductor company's stock, valued at approximately $59,579,000. Mirae Asset Global Investments Co. Ltd. owned about 0.20% of onsemi as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in ON. Janus Henderson Group PLC increased its position in onsemi by 10.9% in the 1st quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company's stock worth $848,392,000 after buying an additional 1,345,894 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of onsemi by 74.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,807,808 shares of the semiconductor company's stock worth $265,450,000 after buying an additional 1,201,534 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of onsemi by 16.6% in the second quarter. Van ECK Associates Corp now owns 5,143,343 shares of the semiconductor company's stock valued at $486,252,000 after acquiring an additional 731,540 shares during the period. Engineers Gate Manager LP boosted its position in shares of onsemi by 570.3% in the second 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. Finally, Empowered Funds LLC boosted its position in shares of onsemi by 814.1% in the first quarter. Empowered Funds LLC now owns 240,614 shares of the semiconductor company's stock valued at $14,899,000 after acquiring an additional 214,292 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Key onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Analysts expect third-quarter results to benefit from growth in AI data-center applications, improving automotive demand and increased energy-related investment. These themes could support revenue growth and strengthen the long-term outlook. Onsemi to Report Q3 Earnings: What's in Store for the Stock?
• Positive Sentiment: Reports that onsemi is in discussions to acquire AI power-chip startup Ferric for approximately $1 billion suggest the company is seeking to expand its position in high-growth power-management and AI hardware markets. The deal could add strategic capabilities, although no transaction has been confirmed. Onsemi reportedly in talks to buy AI power-chip startup Ferric
• Neutral Sentiment: onsemi’s image sensors are being incorporated into new aerial-inspection and embedded-vision camera products, providing additional evidence of design activity in UAV and industrial applications. However, the announcements do not disclose material revenue or order commitments. Vadzo Imaging Positions Falcon-234MGS
• Negative Sentiment: Investors remain cautious because the anticipated earnings benefit from AI and other end markets may be offset by cost pressures. A roughly $1 billion acquisition, if completed, could also raise execution, integration and capital-allocation risks. Onsemi to Report Q3 Earnings: What's in Store for the Stock?

Analysts Set New Price Targets

Several equities analysts recently issued reports on ON shares. Susquehanna lowered their price target on onsemi from $150.00 to $120.00 and set a "positive" rating on the stock in a research note on Wednesday, October 21st. Stifel Nicolaus raised their price objective on onsemi from $75.00 to $80.00 and gave the stock a "hold" rating in a research report on Monday, October 5th. UBS Group reissued a "neutral" rating on shares of onsemi in a report on Thursday, September 17th. Mizuho lowered their price objective on onsemi from $110.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, September 17th. Finally, Cantor Fitzgerald cut their target price on onsemi from $110.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.68.

onsemi Price Performance

Shares of ON stock opened at $71.67 on Monday. The stock's fifty day simple moving average is $74.75 and its 200 day simple moving average is $81.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.46 and a quick ratio of 2.49. The firm has a market cap of $27.90 billion, a price-to-earnings ratio of 45.94, a P/E/G ratio of 0.59 and a beta of 2.11. onsemi has a one year low of $44.56 and a one year high of $134.92.

onsemi (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. onsemi had a net margin of 10.17% and a return on equity of 14.06%. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, analysts expect that onsemi will post 3.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sudhir Gopalswamy sold 15,578 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the sale, the insider owned 158,177 shares of the company's stock, 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 filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.35% of the company's stock.

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.

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