** Chipmaker Onsemi's ON.O shares down 1.6% before the bell at $104.04 after securing capital raise

** Scottsdale, Arizona-based firm early Thurs announced pricing private offering of $1.3 bln 0% 5-yr convertible bonds (CBs)

** Initial conversion price of $161.30 is 52.5% premium to stock's last sale of $105.77 on Weds

** ON shares finished up 3% on Weds after co announced offering for general purposes, including paying down debt

** It intends to use about $61 mln to fund cost of CBs hedge transactions and $331.9 mln to repurchase 3.1 mln of its shares

** Co late Mon forecast Q2 rev of $1.54-$1.64 bln, above Wall Street's expectations, betting on resilient auto demand for its chips

** ON has roughly $41 bln market cap

** Through Weds, ON's stock up ~95% YTD and well outperforming 30% gain in S&P 500 Semiconductors index .SPLRCELCS and 62% rise in Philadelphia SE Semiconductor Index .SOX

** Avg rating of 35 analysts is "hold"; median PT of $100.50 up from $69 a month ago, per LSEG data