Onsemi (NASDAQ:ON) Shares Bought by abrdn plc

abrdn plc boosted its stake in shares of Onsemi (NASDAQ:ON) by 37.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,763 shares of the semiconductor company’s stock after buying an additional 54,464 shares during the period. abrdn plc’s holdings in Onsemi were worth $16,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Provence Wealth Management Group acquired a new position in Onsemi during the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Onsemi in the 4th quarter valued at $32,000. Hanseatic Management Services Inc. acquired a new position in shares of Onsemi in the 3rd quarter valued at $38,000. Headinvest LLC acquired a new position in shares of Onsemi in the 3rd quarter valued at $44,000. Finally, First Pacific Financial acquired a new position in shares of Onsemi in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen upped their price target on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, February 6th. KeyCorp increased their target price on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.28.

Onsemi Trading Up 6.2 %

ON opened at $65.53 on Thursday. Onsemi has a one year low of $59.34 and a one year high of $111.35. The company has a market cap of $28.17 billion, a P/E ratio of 13.40, a PEG ratio of 6.02 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The business’s 50-day simple moving average is $73.93 and its 200-day simple moving average is $75.84.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the business posted $1.32 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts expect that Onsemi will post 4.3 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.