Onsemi (NASDAQ:ON) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its position in Onsemi (NASDAQ:ON) by 21.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,557 shares of the semiconductor company’s stock after acquiring an additional 4,667 shares during the period. Federated Hermes Inc.’s holdings in Onsemi were worth $2,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ON. International Assets Investment Management LLC grew its position in shares of Onsemi by 7,749.6% in the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after buying an additional 4,900 shares during the last quarter. Synergy Asset Management LLC grew its position in shares of Onsemi by 91.5% in the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after buying an additional 73,909 shares during the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in Onsemi during the 4th quarter worth $1,137,000. Finally, Chicago Capital LLC purchased a new position in Onsemi during the 4th quarter worth $3,860,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on ON shares. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a research report on Tuesday, February 6th. The Goldman Sachs Group lowered their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Mizuho lowered their target price 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. Truist Financial lowered their target price 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. Finally, Morgan Stanley lowered their target price on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.28.

Onsemi Stock Up 2.5 %

Shares of NASDAQ:ON opened at $68.06 on Monday. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company’s fifty day moving average is $73.11 and its two-hundred day moving average is $75.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share. Equities analysts anticipate that Onsemi will post 4.26 EPS for the current 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.