Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in Onsemi (NASDAQ:ON)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Onsemi (NASDAQ:ONFree Report) by 3.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 279,821 shares of the semiconductor company’s stock after selling 8,859 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Onsemi were worth $26,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ON. Mirae Asset Global Investments Co. Ltd. grew its stake in Onsemi by 40.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,727 shares of the semiconductor company’s stock valued at $97,270,000 after purchasing an additional 294,276 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Onsemi by 25.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 259,762 shares of the semiconductor company’s stock valued at $24,674,000 after purchasing an additional 52,482 shares during the last quarter. Thematics Asset Management grew its stake in Onsemi by 13.5% during the 2nd quarter. Thematics Asset Management now owns 171,867 shares of the semiconductor company’s stock valued at $16,255,000 after purchasing an additional 20,392 shares during the last quarter. Shelton Capital Management lifted its holdings in shares of Onsemi by 1,826.6% in the 2nd quarter. Shelton Capital Management now owns 53,116 shares of the semiconductor company’s stock valued at $5,024,000 after buying an additional 50,359 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Onsemi by 2.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,796 shares of the semiconductor company’s stock valued at $3,575,000 after buying an additional 822 shares during the period. 96.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ON has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Onsemi from $72.00 to $85.00 and gave the company a “hold” rating in a report on Tuesday, January 2nd. Truist Financial decreased their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Craig Hallum cut Onsemi from a “buy” rating to a “hold” rating and decreased their price objective for the company from $132.00 to $78.00 in a report on Monday, October 30th. JPMorgan Chase & Co. decreased their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price target on shares of Onsemi in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.92.

View Our Latest Analysis on ON

Onsemi Price Performance

ON stock opened at $80.80 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The business has a 50 day simple moving average of $77.70 and a 200-day simple moving average of $83.89. The firm has a market capitalization of $34.80 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 4.57 and a beta of 1.81. Onsemi has a 1 year low of $61.47 and a 1 year high of $111.35.

Onsemi (NASDAQ:ONGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 earnings per share. Equities research analysts anticipate that Onsemi will post 4.45 earnings per share for the current fiscal year.

Onsemi Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Onsemi (NASDAQ:ON)

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