Prudential PLC Buys 19,556 Shares of Onsemi (NASDAQ:ON)

Prudential PLC lifted its stake in shares of Onsemi (NASDAQ:ON) by 60.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,054 shares of the semiconductor company’s stock after acquiring an additional 19,556 shares during the quarter. Prudential PLC’s holdings in Onsemi were worth $3,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ON. Truvestments Capital LLC boosted its stake 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 worth $357,000 after acquiring an additional 207 shares during the period. Assetmark Inc. boosted its stake in Onsemi by 0.3% in the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after purchasing an additional 235 shares during the period. V Square Quantitative Management LLC grew its holdings in Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock valued at $424,000 after buying an additional 252 shares in the last quarter. Huntington National Bank raised its position in shares of Onsemi by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock valued at $209,000 after buying an additional 271 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its holdings in shares of Onsemi by 6.9% in the fourth quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock worth $275,000 after buying an additional 282 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ON. Morgan Stanley reduced their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, February 11th. Roth Capital set a $60.00 target price on Onsemi in a research report on Friday, March 7th. Mizuho cut their price target on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Citigroup decreased their price objective on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, UBS Group cut their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Two investment 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’s stock. According to MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Onsemi Stock Performance

Onsemi stock opened at $33.70 on Friday. Onsemi has a fifty-two week low of $33.21 and a fifty-two week high of $80.08. The company has a market capitalization of $14.20 billion, a PE ratio of 9.28, a P/E/G ratio of 16.74 and a beta of 1.48. The company has a 50 day moving average price of $47.20 and a 200-day moving average price of $60.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, equities analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Onsemi Company 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.