Onsemi (NASDAQ:ON) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 226.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 888,364 shares of the semiconductor company's stock after buying an additional 615,825 shares during the period. Assenagon Asset Management S.A. owned approximately 0.21% of Onsemi worth $36,148,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Atwood & Palmer Inc. increased its stake in shares of Onsemi by 2.5% in the first quarter. Atwood & Palmer Inc. now owns 289,056 shares of the semiconductor company's stock worth $11,762,000 after buying an additional 6,945 shares during the period. Olstein Capital Management L.P. grew its stake in shares of Onsemi by 102.6% in the 1st quarter. Olstein Capital Management L.P. now owns 154,000 shares of the semiconductor company's stock worth $6,266,000 after buying an additional 78,000 shares during the last quarter. Rheos Capital Works Inc. increased its holdings in shares of Onsemi by 33.4% during the first quarter. Rheos Capital Works Inc. now owns 199,500 shares of the semiconductor company's stock valued at $8,118,000 after acquiring an additional 50,000 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Onsemi by 12.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 31,527 shares of the semiconductor company's stock valued at $1,283,000 after purchasing an additional 3,563 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its position in shares of Onsemi by 166.0% during the first quarter. Gateway Investment Advisers LLC now owns 100,753 shares of the semiconductor company's stock valued at $4,100,000 after acquiring an additional 62,877 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Price Performance

NASDAQ ON traded up $2.73 on Monday, reaching $53.75. The company had a trading volume of 5,007,155 shares, compared to its average volume of 8,163,056. The stock has a market capitalization of $22.46 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The firm's 50 day moving average price is $41.86 and its 200 day moving average price is $49.63. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a 12 month low of $31.04 and a 12 month high of $80.08.

Onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The firm's revenue for the quarter was down 22.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. As a group, equities analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ON. Stifel Nicolaus reduced their price objective on Onsemi from $52.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, April 17th. TD Cowen upped their price objective on Onsemi from $38.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Loop Capital dropped their target price on Onsemi from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. KeyCorp reduced their price target on shares of Onsemi from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Roth Capital set a $60.00 price objective on shares of Onsemi in a report on Friday, March 7th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.72.

About Onsemi

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.