Royal London Asset Management Ltd. Purchases 3,666 Shares of Onsemi (NASDAQ:ON)

Royal London Asset Management Ltd. lifted its position in shares of Onsemi (NASDAQ:ON) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in shares of Onsemi during the fourth quarter valued at about $41,000. Safe Harbor Fiduciary LLC bought a new stake in Onsemi in the third quarter worth about $43,000. Synergy Asset Management LLC bought a new stake in Onsemi in the fourth quarter worth about $51,000. Plato Investment Management Ltd bought a new stake in Onsemi in the fourth quarter worth about $51,000. Finally, Rakuten Securities Inc. raised its position in Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 691 shares during the period. 97.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ON has been the topic of several research reports. UBS Group lowered their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. B. Riley lowered their price objective on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Jefferies Financial Group lowered their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Craig Hallum lowered their price target on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Finally, Benchmark lowered their price target on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.85.

Onsemi Price Performance

ON stock opened at $43.78 on Friday. 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 has a one year low of $41.59 and a one year high of $80.08. The stock has a market cap of $18.45 billion, a PE ratio of 12.06, a P/E/G ratio of 16.74 and a beta of 1.59. The firm has a 50 day simple moving average of $50.00 and a two-hundred day simple moving average of $62.08.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 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%. On average, analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

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.