Mitsubishi UFJ Asset Management Co. Ltd. Buys 45,585 Shares of Onsemi (NASDAQ:ON)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Onsemi (NASDAQ:ON) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 722,353 shares of the semiconductor company’s stock after purchasing an additional 45,585 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Onsemi were worth $46,166,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ON. D.A. Davidson & CO. boosted its stake in shares of Onsemi by 8.5% in the 3rd quarter. D.A. Davidson & CO. now owns 7,061 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 552 shares during the last quarter. Townsquare Capital LLC grew its position in shares of Onsemi by 105.0% during the 3rd quarter. Townsquare Capital LLC now owns 6,561 shares of the semiconductor company’s stock worth $476,000 after buying an additional 3,360 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Onsemi by 8.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 18,409 shares of the semiconductor company’s stock valued at $1,337,000 after acquiring an additional 1,500 shares during the last quarter. BlueCrest Capital Management Ltd boosted its stake in Onsemi by 172.3% during the 3rd quarter. BlueCrest Capital Management Ltd now owns 17,700 shares of the semiconductor company’s stock worth $1,285,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Circle Wealth Management LLC grew its holdings in Onsemi by 153.1% during the third quarter. Circle Wealth Management LLC now owns 11,828 shares of the semiconductor company’s stock valued at $859,000 after purchasing an additional 7,155 shares during the period. Institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $40.94 on Friday. The stock has a market capitalization of $17.25 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. Onsemi has a 52 week low of $40.62 and a 52 week high of $80.08. The stock has a 50 day moving average price of $48.92 and a 200 day moving average price of $61.21. 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 released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ON has been the topic of several analyst reports. Benchmark cut their target price on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Roth Capital set a $60.00 price objective on Onsemi in a research note on Friday, March 7th. Mizuho decreased their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Citigroup dropped their price target on Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, B. Riley cut their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

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.