abrdn plc Raises Stock Holdings in Onsemi (NASDAQ:ON)

abrdn plc boosted its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,763 shares of the semiconductor company's stock after purchasing an additional 54,464 shares during the quarter. abrdn plc's holdings in Onsemi were worth $16,770,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Ballentine Partners LLC raised its stake in shares of Onsemi by 1.7% in the 3rd quarter. Ballentine Partners LLC now owns 7,867 shares of the semiconductor company's stock valued at $731,000 after buying an additional 134 shares in the last quarter. Private Trust Co. NA increased its position in shares of Onsemi by 13.2% during the 3rd quarter. Private Trust Co. NA now owns 1,282 shares of the semiconductor company's stock worth $119,000 after purchasing an additional 149 shares in the last quarter. Slow Capital Inc. increased its position in shares of Onsemi by 0.4% during the 3rd quarter. Slow Capital Inc. now owns 40,154 shares of the semiconductor company's stock worth $3,732,000 after purchasing an additional 157 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Onsemi by 10.8% during the 3rd quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company's stock worth $165,000 after purchasing an additional 173 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of Onsemi by 7.7% during the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company's stock worth $206,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Onsemi Stock Up 1.3 %

Shares of NASDAQ ON traded up $0.85 during midday trading on Thursday, reaching $66.38. The company's stock had a trading volume of 9,327,396 shares, compared to its average volume of 7,408,657. 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 fifty-two week low of $59.34 and a fifty-two week high of $111.35. The stock has a market capitalization of $28.53 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 6.02 and a beta of 1.80. The stock has a 50 day simple moving average of $73.60 and a 200-day simple moving average of $75.77.

Onsemi (NASDAQ:ON - Get Free Report) last released its 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. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2 billion. During the same period last year, the business earned $1.32 earnings per share. The firm's revenue was down 4.1% on a year-over-year basis. Equities research analysts predict that Onsemi will post 4.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Onsemi from $94.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, February 6th. Stifel Nicolaus decreased their price objective on shares of Onsemi from $82.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 18th. Mizuho decreased their price objective on shares of 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 reissued a "buy" rating and set a $92.00 price objective on shares of Onsemi in a report on Tuesday, February 6th. Finally, Roth Mkm increased their price objective on shares of Onsemi from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.28.

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.