Mizuho Securities Co. Ltd. Sells 1,110 Shares of Onsemi (NASDAQ:ON)

Mizuho Securities Co. Ltd. cut its holdings in Onsemi (NASDAQ:ON) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,620 shares of the semiconductor company’s stock after selling 1,110 shares during the quarter. Onsemi comprises approximately 2.5% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 15th largest position. Mizuho Securities Co. Ltd.’s holdings in Onsemi were worth $166,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Safe Harbor Fiduciary LLC bought a new stake in Onsemi in the third quarter worth $43,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi in the fourth quarter worth about $41,000. Synergy Asset Management LLC bought a new stake in shares of Onsemi during the 4th quarter worth about $51,000. Plato Investment Management Ltd bought a new stake in shares of Onsemi during the 4th quarter worth about $51,000. Finally, Rakuten Securities Inc. raised its stake in shares of Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 691 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Down 0.8 %

Shares of ON opened at $45.31 on Wednesday. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $49.59 and a two-hundred day moving average price of $61.69. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Equities analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

ON has been the topic of several analyst reports. Jefferies Financial Group lowered their price target on Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. B. Riley cut their target price on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Mizuho lowered their price target on Onsemi from $71.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Truist Financial cut their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.50.

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.