Royal London Asset Management Ltd. Increases Stake in Onsemi (NASDAQ:ON)

Royal London Asset Management Ltd. increased its holdings in Onsemi (NASDAQ:ON) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 171,244 shares of the semiconductor company’s stock after purchasing an additional 3,666 shares during the period. Royal London Asset Management Ltd.’s holdings in Onsemi were worth $10,797,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC raised its holdings in Onsemi by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 207 shares during the last quarter. Assetmark Inc. raised its holdings in Onsemi by 0.3% during the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock valued at $4,949,000 after buying an additional 235 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock valued at $424,000 after buying an additional 252 shares during the last quarter. Clear Creek Financial Management LLC raised its holdings in Onsemi by 6.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 4,366 shares of the semiconductor company’s stock valued at $275,000 after buying an additional 282 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in Onsemi by 9.9% during the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ON. Roth Mkm lowered their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company decreased their price objective 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. Stifel Nicolaus decreased their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Jefferies Financial Group decreased their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Citigroup decreased their price objective 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.85.

Onsemi Stock Performance

Shares of ON stock opened at $43.78 on Friday. Onsemi has a one year low of $41.59 and a one year high of $80.08. The company’s 50-day moving average is $50.00 and its 200 day moving average is $62.08. The company has a market capitalization of $18.45 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. Sell-side analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Onsemi 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.