DnB Asset Management AS Grows Stock Holdings in Onsemi (NASDAQ:ON)

DnB Asset Management AS grew its stake in shares of Onsemi (NASDAQ:ON - Free Report) by 57.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 535,262 shares of the semiconductor company's stock after purchasing an additional 195,367 shares during the period. DnB Asset Management AS owned about 0.13% of Onsemi worth $33,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ON. Truvestments Capital LLC boosted its position in shares of Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after acquiring an additional 207 shares during the period. Assetmark Inc. boosted its holdings in Onsemi by 0.3% in the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock valued at $4,949,000 after purchasing an additional 235 shares during the period. V Square Quantitative Management LLC grew its position in Onsemi by 3.9% in the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock worth $424,000 after purchasing an additional 252 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of Onsemi by 6.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company's stock worth $275,000 after purchasing an additional 282 shares during the period. Finally, Savant Capital LLC raised its position in shares of Onsemi by 9.9% during the fourth quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company's stock valued at $208,000 after buying an additional 297 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently commented on ON. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $77.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Roth Mkm decreased their price objective on Onsemi from $100.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. KeyCorp dropped their target price on Onsemi from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 14th. UBS Group cut their target price on Onsemi from $72.00 to $65.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Finally, Roth Capital set a $60.00 target price on shares of Onsemi in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $66.50.

Onsemi Stock Performance

Onsemi stock traded down $0.25 during midday trading on Monday, reaching $40.69. The stock had a trading volume of 8,996,207 shares, compared to its average volume of 7,113,090. Onsemi has a 12 month low of $39.37 and a 12 month high of $80.08. The firm's 50-day moving average price is $48.92 and its 200 day moving average price is $61.14. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $17.15 billion, a PE ratio of 11.21, a P/E/G ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. As a group, research analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

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.