Wells Fargo Boosts ON Semiconductor with Positive Outlook
Fintel reports that on November 22, 2024, Wells Fargo initiated coverage of ON Semiconductor (WBAG:ONSE) with an Overweight recommendation.
Current Fund Sentiment Towards ON Semiconductor
As of now, there are 1,757 funds or institutions reporting their positions in ON Semiconductor. This figure reflects a decrease of 46 funds, or 2.55%, in the last quarter. The average portfolio weight for all funds dedicated to ONSE has risen to 0.30%, marking an increase of 1.72%. Overall, institutional ownership has grown, with total shares owned increasing by 0.46% to 501,528K shares over the past three months.
BlackRock currently holds 41,874K shares, equating to a 9.83% ownership stake in the company.
The FSELX – Semiconductors Portfolio has a stake of 18,169K shares, which corresponds to 4.27% ownership. This represents an increase from their previous holding of 17,280K shares, reflecting a growth of 4.89%. Furthermore, FSELX raised its portfolio allocation in ONSE by 8.23% during the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 13,612K shares, or 3.20% of the company. This is an uptick from the prior ownership of 13,456K shares, meaning a growth of 1.15%. However, the firm decreased its portfolio allocation in ONSE by 8.32% in the past quarter.
JPMorgan Chase has increased its holdings to 12,213K shares, representing a 2.87% stake. This is a substantial gain from their earlier position of 7,604K shares, showcasing a remarkable increase of 37.73%. Notably, the firm has significantly reduced its ONSE portfolio allocation by 89.37% in the last quarter.
Janus Henderson Group holds 11,335K shares, constituting a 2.66% ownership. This is down from the previous 11,543K shares held, indicating a decrease of 1.83%. Furthermore, the firm has cut its portfolio allocation in ONSE by 65.49% recently.
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This story originally appeared on Fintel.
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