Onsemi (NASDAQ:ON) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its stake in Onsemi (NASDAQ:ON) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,306 shares of the semiconductor company’s stock after acquiring an additional 740 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Onsemi were worth $894,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB purchased a new stake in Onsemi in the 1st quarter worth approximately $90,274,000. American Century Companies Inc. increased its stake in Onsemi by 451.3% in the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after purchasing an additional 909,558 shares during the last quarter. Van ECK Associates Corp lifted its position in Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after buying an additional 729,081 shares during the period. Dimensional Fund Advisors LP boosted its stake in Onsemi by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after buying an additional 665,633 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after buying an additional 574,900 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ON shares. Loop Capital began coverage on shares of Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Mizuho set a $85.00 price objective on shares of Onsemi in a research note on Friday, October 18th. Truist Financial cut their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Bank of America boosted their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley upped their price target on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.30.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

Onsemi Stock Down 3.4 %

Shares of NASDAQ ON opened at $64.76 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The stock’s 50-day simple moving average is $70.43 and its 200-day simple moving average is $71.86. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 7.34 and a beta of 1.65.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $1.39 EPS. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, equities analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal 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.