Mufg Securities Americas Inc. Invests $741,000 in Onsemi (NASDAQ:ON)

Mufg Securities Americas Inc. bought a new stake in shares of Onsemi (NASDAQ:ON - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,745 shares of the semiconductor company's stock, valued at approximately $741,000.

Several other hedge funds have also recently made changes to their positions in the business. Czech National Bank grew its stake in Onsemi by 5.8% in the fourth quarter. Czech National Bank now owns 92,322 shares of the semiconductor company's stock worth $5,821,000 after purchasing an additional 5,062 shares during the period. Oak Thistle LLC purchased a new stake in Onsemi in the fourth quarter worth $515,000. Park Avenue Securities LLC grew its stake in Onsemi by 14.8% in the fourth quarter. Park Avenue Securities LLC now owns 9,493 shares of the semiconductor company's stock worth $599,000 after purchasing an additional 1,221 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Onsemi by 20.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,341 shares of the semiconductor company's stock worth $274,000 after purchasing an additional 722 shares during the period. Finally, Wedge Capital Management L L P NC grew its stake in Onsemi by 40.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company's stock worth $1,763,000 after purchasing an additional 8,043 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

ON stock traded up $0.40 during trading on Friday, reaching $44.92. The stock had a trading volume of 5,476,301 shares, compared to its average volume of 7,755,784. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The stock's 50 day moving average is $39.76 and its two-hundred day moving average is $52.96. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The firm has a market cap of $18.77 billion, a PE ratio of 12.37, a PEG ratio of 16.74 and a beta of 1.39.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ON shares. Roth Mkm reduced their price target on Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Needham & Company LLC cut their target price on Onsemi from $57.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Craig Hallum cut their target price on Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company cut their target price on Onsemi from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Loop Capital cut their target price on Onsemi from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Onsemi currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.12.

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.