Mizuho Securities Co. Ltd. Trims Stake in Onsemi (NASDAQ:ON)

Mizuho Securities Co. Ltd. lowered its stake in shares of Onsemi (NASDAQ:ON) by 74.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 550 shares of the semiconductor company’s stock after selling 1,610 shares during the quarter. Mizuho Securities Co. Ltd.’s holdings in Onsemi were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ON. International Assets Investment Management LLC grew its holdings in Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after purchasing an additional 82,301 shares during the period. State of Michigan Retirement System grew its holdings in Onsemi by 3.6% in the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the period. Synergy Asset Management LLC grew its holdings in Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock worth $12,918,000 after purchasing an additional 73,909 shares during the period. Handelsinvest Investeringsforvaltning bought a new position in shares of Onsemi in the fourth quarter worth approximately $1,137,000. Finally, Chicago Capital LLC bought a new position in shares of Onsemi in the fourth quarter worth approximately $3,860,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of ON stock traded up $1.03 during mid-day trading on Tuesday, reaching $61.68. 6,890,262 shares of the company’s stock traded hands, compared to its average volume of 7,314,261. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The firm has a 50 day moving average price of $73.93 and a two-hundred day moving average price of $75.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The firm has a market capitalization of $26.51 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the company earned $1.32 EPS. Onsemi’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, research analysts forecast that Onsemi will post 4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

ON has been the topic of several analyst reports. KeyCorp upped their target price on shares of Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. TD Cowen upped their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group dropped their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Morgan Stanley dropped their target price on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $95.28.

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.