AIA Group Ltd Acquires 1,893 Shares of Onsemi (NASDAQ:ON)

AIA Group Ltd raised its holdings in shares of Onsemi (NASDAQ:ON) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,673 shares of the semiconductor company’s stock after purchasing an additional 1,893 shares during the period. AIA Group Ltd’s holdings in Onsemi were worth $1,894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dana Investment Advisors Inc. raised its position in shares of Onsemi by 0.9% in the 2nd quarter. Dana Investment Advisors Inc. now owns 14,460 shares of the semiconductor company’s stock worth $1,368,000 after acquiring an additional 129 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of Onsemi by 3.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 4,163 shares of the semiconductor company’s stock worth $387,000 after acquiring an additional 132 shares in the last quarter. Ballentine Partners LLC grew 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 worth $731,000 after buying an additional 134 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Onsemi by 3.2% in the 2nd 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 during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Onsemi by 13.2% in the 3rd 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 during the last quarter. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ON. TD Cowen upped their price target on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Evercore ISI began coverage on Onsemi in a research note on Tuesday. They issued an “outperform” rating and a $104.00 price target on the stock. Susquehanna restated a “positive” rating and issued a $90.00 price target on shares of Onsemi in a research note on Monday, April 8th. Mizuho cut their target price on Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.52.

Onsemi Price Performance

NASDAQ:ON opened at $62.42 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $75.07 and its two-hundred day simple moving average is $76.66. The stock has a market cap of $26.83 billion, a PE ratio of 12.87, a P/E/G ratio of 6.27 and a beta of 1.80. Onsemi has a 52 week low of $60.60 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. As a group, analysts forecast that Onsemi will post 4.32 EPS for the current fiscal year.

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.