Onsemi (NASDAQ:ON) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its position in Onsemi (NASDAQ:ON - Free Report) by 161.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 236,914 shares of the semiconductor company's stock after acquiring an additional 146,229 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.06% of Onsemi worth $19,791,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ON. Dana Investment Advisors Inc. raised its stake in shares of Onsemi by 0.9% in the second quarter. Dana Investment Advisors Inc. now owns 14,460 shares of the semiconductor company's stock valued at $1,368,000 after buying an additional 129 shares during the period. Arkadios Wealth Advisors grew its position in Onsemi by 3.3% during the third quarter. Arkadios Wealth Advisors now owns 4,163 shares of the semiconductor company's stock worth $387,000 after buying an additional 132 shares in the last quarter. Ballentine Partners LLC grew its position in Onsemi by 1.7% during the third quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company's stock worth $731,000 after buying an additional 134 shares in the last quarter. Raymond James Trust N.A. grew its position in Onsemi by 3.2% during the second quarter. Raymond James Trust N.A. now owns 4,723 shares of the semiconductor company's stock worth $447,000 after buying an additional 145 shares in the last quarter. Finally, Private Trust Co. NA grew its position in Onsemi by 13.2% during the third quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company's stock worth $119,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Wall Street Analyst Weigh In

ON has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Onsemi from $95.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. TD Cowen upped their target price on Onsemi from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, February 6th. Mizuho reduced their target price on Onsemi from $98.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, February 6th. Needham & Company LLC reiterated a "buy" rating and set a $92.00 target price on shares of Onsemi in a report on Tuesday, February 6th. Finally, Roth Mkm upped their price target on Onsemi from $75.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Onsemi presently has an average rating of "Moderate Buy" and a consensus price target of $96.52.

Onsemi Trading Down 3.5 %

Shares of Onsemi stock traded down $2.22 on Friday, hitting $60.71. 9,859,218 shares of the company traded hands, compared to its average volume of 5,800,797. The stock's 50 day moving average price is $74.67 and its 200-day moving average price is $76.34. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. Onsemi has a 52 week low of $60.26 and a 52 week high of $111.35. The company has a market cap of $26.10 billion, a PE ratio of 12.42, a PEG ratio of 6.13 and a beta of 1.80.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company's revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Equities research analysts predict that Onsemi will post 4.31 EPS for the current year.

Onsemi Company 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.