Rakuten Investment Management Inc. Purchases 14,771 Shares of onsemi $ON

Rakuten Investment Management Inc. grew its position in onsemi (NASDAQ:ON) by 12.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 129,575 shares of the semiconductor company’s stock after buying an additional 14,771 shares during the period. Rakuten Investment Management Inc.’s holdings in onsemi were worth $9,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ON. Janus Henderson Group PLC grew its holdings in shares of onsemi by 10.9% during the first quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company’s stock valued at $848,392,000 after buying an additional 1,345,894 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of onsemi by 74.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,807,808 shares of the semiconductor company’s stock valued at $265,450,000 after acquiring an additional 1,201,534 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of onsemi during the third quarter valued at approximately $59,579,000. Van ECK Associates Corp raised its holdings in onsemi by 16.6% in the 2nd quarter. Van ECK Associates Corp now owns 5,143,343 shares of the semiconductor company’s stock worth $486,252,000 after acquiring an additional 731,540 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in onsemi by 570.3% in the 2nd quarter. Engineers Gate Manager LP now owns 304,377 shares of the semiconductor company’s stock worth $28,776,000 after acquiring an additional 258,968 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

More onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported its fourth consecutive earnings beat, while data-center sales reportedly surged 175%. The company’s planned $600 million acquisition of Ferric is intended to strengthen its power-delivery technology for AI processors. Onsemi AI data-center sales and valuation
• Neutral Sentiment: Investors are weighing whether fast-growing AI demand can become a durable growth driver for onsemi, or whether it is insufficient to offset weakness elsewhere in the business.
• Negative Sentiment: Semiconductor peers also fell in a post-midterm retreat from AI-chip stocks, adding sector-wide pressure despite no new company-specific negative catalyst reported for onsemi. AI-chip stocks slide
• Negative Sentiment: Reports that onsemi is delaying some automakers’ inventory restocking while prioritizing AI and industrial customers raise concerns about near-term auto demand. Several analysts have also taken a more cautious view, including Mizuho and Goldman Sachs, which lowered expectations for the stock. Onsemi delays auto restocking as AI sales jump Mizuho forecast

Analysts Set New Price Targets

Several brokerages have commented on ON. Citigroup cut their target price on onsemi from $98.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday. Robert W. Baird lifted their target price on onsemi from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $90.00 price target on shares of onsemi in a research note on Tuesday. UBS Group reaffirmed a “neutral” rating on shares of onsemi in a report on Thursday, September 17th. Finally, Seaport Research Partners began coverage on onsemi in a report on Tuesday, September 22nd. They set a “buy” rating and a $100.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.03.

Insiders Place Their Bets

In other onsemi news, insider Sudhir Gopalswamy sold 15,578 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the sale, the insider directly owned 158,177 shares in the company, valued at approximately $12,654,160. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.35% of the company’s stock.

onsemi Stock Performance

Shares of ON stock opened at $63.01 on Friday. The company has a quick ratio of 2.49, a current ratio of 3.55 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $74.45 and a 200-day moving average price of $82.14. onsemi has a 52 week low of $44.56 and a 52 week high of $134.92. The firm has a market capitalization of $24.53 billion, a PE ratio of 36.63, a P/E/G ratio of 0.57 and a beta of 2.11.

onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. onsemi had a net margin of 10.82% and a return on equity of 15.53%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that onsemi will post 3.27 earnings per share for the current year.

About onsemi

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.