Brandywine Global Investment Management LLC Buys 145,378 Shares of Onsemi (NASDAQ:ON)

Brandywine Global Investment Management LLC raised its stake in Onsemi (NASDAQ:ON) by 12.4% in the 4th quarter, HoldingsChannel reports. The firm owned 1,319,560 shares of the semiconductor company’s stock after acquiring an additional 145,378 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Onsemi were worth $83,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ON. Norges Bank acquired a new stake in shares of Onsemi in the 4th quarter worth about $378,312,000. Allspring Global Investments Holdings LLC raised its position in Onsemi by 35.0% in the fourth 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. Vanguard Group Inc. boosted its stake in Onsemi by 0.7% in 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 acquiring an additional 344,354 shares during the last quarter. Andra AP fonden increased its stake in shares of Onsemi by 2,388.4% during the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock worth $21,651,000 after purchasing an additional 329,600 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Onsemi Stock Down 6.4 %

Shares of NASDAQ:ON opened at $40.94 on Friday. The stock’s 50-day moving average is $48.92 and its 200 day moving average is $61.21. Onsemi has a 1 year low of $40.62 and a 1 year high of $80.08. The company has a market cap of $17.25 billion, a PE ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data 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 return on equity of 20.10% and a net margin of 22.21%. Sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ON. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Onsemi in a research report on Monday, March 3rd. Mizuho cut their price target on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Susquehanna lowered their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday, February 11th. KeyCorp reduced their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.