Pilgrim Partners Asia Pte Ltd Acquires Shares of 680 Onsemi (NASDAQ:ON)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Onsemi (NASDAQ:ON) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 680 shares of the semiconductor company’s stock, valued at approximately $43,000.

Several other institutional investors have also made changes to their positions in ON. Resona Asset Management Co. Ltd. acquired a new stake in Onsemi during the fourth quarter worth about $7,918,000. Prudential PLC boosted its position in shares of Onsemi by 60.2% during the 4th quarter. Prudential PLC now owns 52,054 shares of the semiconductor company’s stock worth $3,282,000 after acquiring an additional 19,556 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in Onsemi in the fourth quarter valued at approximately $1,912,000. Bryce Point Capital LLC acquired a new position in Onsemi during the fourth quarter valued at approximately $489,000. Finally, Huntington National Bank lifted its stake in Onsemi by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 271 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Onsemi Trading Down 5.2 %

Shares of ON stock opened at $33.70 on Friday. Onsemi has a fifty-two week low of $33.21 and a fifty-two week high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The stock has a 50 day simple moving average of $47.20 and a two-hundred day simple moving average of $60.15. The company has a market cap of $14.20 billion, a P/E ratio of 9.28, a PEG ratio of 16.74 and a beta of 1.48.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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%. Research analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ON. Roth Mkm dropped their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Citigroup dropped their target price on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. The Goldman Sachs Group reduced their price target on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Truist Financial lowered their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Finally, B. Riley decreased their target price on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research note 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.50.

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.