Pictet Asset Management Holding SA Acquires 615,905 Shares of onsemi $ON

Key Points

• Pictet Asset Management Holding SA increased its stake in onsemi by 15.5% in the first quarter, buying 615,905 additional shares and bringing its total holding to 4.6 million shares, worth about $284.5 million.
• Investor sentiment has turned cautious after onsemi announced its largest-ever acquisition, the all-stock Synaptics deal, due to concerns about valuation, dilution, and integration risk.
• Despite the merger concerns, management says the deal should expand onsemi’s market reach and be accretive to non-GAAP EPS within about 18 months if synergies are achieved, while the company also recently posted earnings and revenue that topped estimates.

Pictet Asset Management Holding SA boosted its holdings in onsemi (NASDAQ:ON - Free Report) by 15.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,597,886 shares of the semiconductor company's stock after acquiring an additional 615,905 shares during the period. Pictet Asset Management Holding SA owned 1.17% of onsemi worth $284,495,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its position in shares of onsemi by 194.5% in the first quarter. Venturi Wealth Management LLC now owns 13,663 shares of the semiconductor company's stock valued at $846,000 after purchasing an additional 9,023 shares during the period. Sequent Planning LLC bought a new stake in shares of onsemi during the 1st quarter worth about $210,000. Louisiana State Employees Retirement System bought a new stake in shares of onsemi during the 1st quarter worth about $1,245,000. Kestra Private Wealth Services LLC grew its stake in onsemi by 2.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 4,554 shares of the semiconductor company's stock valued at $282,000 after buying an additional 125 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in onsemi by 26.0% in the 1st quarter. Blue Trust Inc. now owns 8,751 shares of the semiconductor company's stock valued at $542,000 after buying an additional 1,805 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

onsemi News Roundup

Here are the key news stories impacting onsemi this week:

• Negative Sentiment: The Synaptics deal is onsemi’s largest acquisition ever, and the market is worried about valuation, integration risk, and whether the benefits will justify the price. The $7 Billion Reason ON Semiconductor Stock Is Down Today
• Negative Sentiment: Because the transaction is all stock, existing shareholders face dilution, and some analysts said the deal adds complexity to an already complicated business model. ON Semi tanks 20% following Synaptics deal as CEO defends core business
• Neutral Sentiment: Management says the acquisition expands onsemi’s addressable market, strengthens its edge-AI and connectivity portfolio, and should be accretive to non-GAAP EPS within about 18 months if synergies are realized. onsemi to Acquire Synaptics to Enable the Next Generation of Intelligent Systems for Physical AI
• Neutral Sentiment: Separately, onsemi recently updated Q2 2026 guidance with EPS and revenue ranges that were roughly in line to slightly below expectations, which may be adding to investor caution. Why Is ON Semiconductor Stock Falling On Friday?

Analyst Ratings Changes

Several equities research analysts have issued reports on ON shares. Mizuho raised their price objective on shares of onsemi from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Wall Street Zen upgraded onsemi from a "hold" rating to a "buy" rating in a research note on Monday, April 13th. JPMorgan Chase & Co. lifted their price target on onsemi from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Cantor Fitzgerald lifted their price target on onsemi from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. Finally, Bank of America boosted their price target on onsemi from $115.00 to $138.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $102.35.

onsemi Stock Performance

Shares of NASDAQ:ON opened at $90.65 on Friday. onsemi has a 12-month low of $44.56 and a 12-month high of $134.92. The company's 50 day moving average price is $110.67 and its two-hundred day moving average price is $78.83. The firm has a market cap of $35.53 billion, a PE ratio of 64.29, a PEG ratio of 0.81 and a beta of 1.97. The company has a quick ratio of 3.14, a current ratio of 4.87 and a debt-to-equity ratio of 0.41.

onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The semiconductor company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. onsemi had a net margin of 9.46% and a return on equity of 12.79%. The firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. onsemi has set its Q2 2026 guidance at 0.650-0.770 EPS. Equities research analysts predict that onsemi will post 3.09 earnings per share for the current year.

Insiders Place Their Bets

In other onsemi news, CFO Trent Thad sold 30,000 shares of onsemi stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $93.00, for a total value of $2,790,000.00. Following the completion of the transaction, the chief financial officer directly owned 301,194 shares of the company's stock, valued at $28,011,042. The trade was a 9.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is owned by corporate insiders.

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. 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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