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

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Onsemi (NASDAQ:ON) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 722,353 shares of the semiconductor company’s stock after purchasing an additional 45,585 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of Onsemi worth $46,166,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Onsemi by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the last quarter. Geode Capital Management LLC grew its stake in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Onsemi by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after acquiring an additional 83,665 shares during the period. Finally, Robeco Schweiz AG grew its position in shares of Onsemi by 16.8% in the fourth quarter. Robeco Schweiz AG now owns 1,234,000 shares of the semiconductor company’s stock valued at $77,804,000 after purchasing an additional 177,740 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Trading Down 6.4 %

Shares of ON stock opened at $40.94 on Friday. The company has a market capitalization of $17.25 billion, a P/E ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 12-month low of $40.62 and a 12-month high of $80.08. 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 firm has a 50-day moving average price of $48.92 and a 200 day moving average price of $61.21.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) 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%. Research analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Susquehanna decreased their target price on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley reduced their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, February 11th. Roth Capital set a $60.00 target price on shares of Onsemi in a research report on Friday, March 7th. Wells Fargo & Company reduced their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Finally, Roth Mkm dropped their price objective on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus 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.