Tokio Marine Asset Management Co. Ltd. Has $939,000 Stock Holdings in Onsemi (NASDAQ:ON)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Onsemi (NASDAQ:ON) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,246 shares of the semiconductor company’s stock after acquiring an additional 1,168 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Onsemi were worth $939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its holdings in Onsemi by 7.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after acquiring an additional 637 shares during the period. GAMMA Investing LLC acquired a new position in Onsemi in the fourth quarter worth about $224,000. Linden Thomas Advisory Services LLC increased its holdings in shares of Onsemi by 5.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 9,497 shares of the semiconductor company’s stock worth $793,000 after buying an additional 509 shares in the last quarter. Duality Advisers LP increased its holdings in shares of Onsemi by 22.7% during the fourth quarter. Duality Advisers LP now owns 11,384 shares of the semiconductor company’s stock worth $951,000 after buying an additional 2,107 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Onsemi by 27.3% in the fourth quarter. Handelsbanken Fonder AB now owns 721,630 shares of the semiconductor company’s stock valued at $60,278,000 after purchasing an additional 154,761 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on ON shares. Evercore ISI started coverage on shares of Onsemi in a report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price target for the company. Roth Mkm lifted their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Morgan Stanley lowered their price target on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Truist Financial lowered their price target on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.28.

Onsemi Stock Performance

NASDAQ ON opened at $68.06 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 company has a market capitalization of $29.26 billion, a P/E ratio of 13.92, a P/E/G ratio of 6.55 and a beta of 1.80. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The firm has a 50-day moving average price of $73.32 and a two-hundred day moving average price of $75.70.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. Analysts anticipate that Onsemi will post 4.26 earnings per share for the current 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.