Korea Investment CORP Has $15.11 Million Stock Holdings in Onsemi (NASDAQ:ON)

Korea Investment CORP lowered its stake in Onsemi (NASDAQ:ON) by 47.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 239,703 shares of the semiconductor company’s stock after selling 215,127 shares during the quarter. Korea Investment CORP’s holdings in Onsemi were worth $15,113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ON. D.A. Davidson & CO. lifted its stake in Onsemi by 8.5% in the third quarter. D.A. Davidson & CO. now owns 7,061 shares of the semiconductor company’s stock valued at $513,000 after acquiring an additional 552 shares during the last quarter. Townsquare Capital LLC lifted its stake in Onsemi by 105.0% in the 3rd quarter. Townsquare Capital LLC now owns 6,561 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 3,360 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Onsemi by 8.9% during the third quarter. Public Sector Pension Investment Board now owns 18,409 shares of the semiconductor company’s stock worth $1,337,000 after purchasing an additional 1,500 shares during the period. Edgestream Partners L.P. acquired a new position in Onsemi during the third quarter worth approximately $2,229,000. Finally, Atom Investors LP raised its stake in Onsemi by 2.8% in the third quarter. Atom Investors LP now owns 42,827 shares of the semiconductor company’s stock valued at $3,110,000 after buying an additional 1,153 shares during the period. Institutional investors own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ON shares. Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of Onsemi in a report on Monday, March 3rd. B. Riley decreased their price objective on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Truist Financial dropped their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. KeyCorp reduced their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Roth Mkm lowered their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Two 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’s stock. According to MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Onsemi Price Performance

Shares of ON stock opened at $40.94 on Monday. The business has a fifty day simple moving average of $48.92 and a 200 day simple moving average of $61.14. The company has a market cap of $17.25 billion, a P/E ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. Onsemi has a twelve month low of $40.62 and a twelve month high of $80.08.

Onsemi (NASDAQ:ON) last posted its 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, sell-side analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

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.