Onsemi (NASDAQ:ON) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its position in Onsemi (NASDAQ:ON) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,830 shares of the semiconductor company’s stock after buying an additional 5,853 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Onsemi were worth $2,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ON. Safe Harbor Fiduciary LLC purchased a new position in Onsemi in the third quarter valued at about $43,000. Newbridge Financial Services Group Inc. purchased a new position in Onsemi in the 4th quarter worth approximately $41,000. Synergy Asset Management LLC acquired a new stake in Onsemi in the fourth quarter valued at approximately $51,000. Plato Investment Management Ltd acquired a new position in shares of Onsemi during the fourth quarter worth $51,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 691 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ON. Citigroup dropped their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Jefferies Financial Group decreased their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Roth Capital set a $60.00 price objective on shares of Onsemi in a research note on Friday, March 7th. Truist Financial reduced their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average target price of $66.50.

Onsemi Price Performance

Shares of ON opened at $40.94 on Friday. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The stock has a market cap of $17.25 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The stock’s 50-day moving average price is $48.92 and its two-hundred day moving average price is $61.25. Onsemi has a 1 year low of $40.62 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON) last announced its quarterly 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 return on equity of 20.10% and a net margin of 22.21%. On average, equities analysts predict 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.