Janus Henderson Group PLC Boosts Stake in Onsemi (NASDAQ:ON)

Janus Henderson Group PLC lifted its holdings in shares of Onsemi (NASDAQ:ON - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,377,264 shares of the semiconductor company's stock after purchasing an additional 1,041,989 shares during the quarter. Janus Henderson Group PLC owned about 2.91% of Onsemi worth $780,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in Onsemi during the fourth quarter worth $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Onsemi during the 4th quarter worth about $43,000. Synergy Asset Management LLC acquired a new position in Onsemi during the 4th quarter worth about $51,000. Plato Investment Management Ltd purchased a new position in Onsemi during the 4th quarter valued at about $51,000. Finally, Rakuten Securities Inc. increased its stake in Onsemi by 434.6% during the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock worth $54,000 after buying an additional 691 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Up 3.0 %

Shares of Onsemi stock opened at $40.98 on Friday. Onsemi has a one year low of $31.04 and a one year high of $80.08. The company has a market cap of $17.12 billion, a P/E ratio of 11.29, a PEG ratio of 16.74 and a beta of 1.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The firm has a fifty day moving average of $39.72 and a two-hundred day moving average of $53.91.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on ON shares. Wells Fargo & Company decreased their target price on Onsemi from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Benchmark decreased their price objective on Onsemi from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. UBS Group cut their target price on shares of Onsemi from $55.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Roth Mkm dropped their price objective on shares of Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, Roth Capital set a $60.00 price objective on shares of Onsemi in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.32.

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.

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