Onsemi (NASDAQ:ON) Shares Acquired by Tredje AP fonden

Tredje AP fonden increased its position in shares of Onsemi (NASDAQ:ON) by 320.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,185 shares of the semiconductor company’s stock after purchasing an additional 51,207 shares during the quarter. Tredje AP fonden’s holdings in Onsemi were worth $4,606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ON. The Manufacturers Life Insurance Company raised its position in shares of Onsemi by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after purchasing an additional 35,362 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Onsemi in the first quarter worth $2,447,000. Assenagon Asset Management S.A. lifted its stake in Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after buying an additional 88,496 shares during the last quarter. Norden Group LLC acquired a new position in shares of Onsemi during the first quarter valued at $774,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Onsemi during the first quarter valued at $808,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Down 1.1 %

Shares of NASDAQ:ON opened at $70.64 on Thursday. The stock has a market capitalization of $30.39 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 3.72 and a beta of 1.66. Onsemi has a 1-year low of $59.34 and a 1-year high of $95.69. The company has a 50 day moving average price of $73.13 and a 200 day moving average price of $72.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company’s revenue was down 17.2% compared to the same quarter last year. During the same period last year, the company posted $1.33 EPS. On average, research analysts anticipate that Onsemi will post 4.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ON shares. Susquehanna lifted their price objective on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price target on shares of Onsemi in a report on Thursday, June 13th. Benchmark boosted their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Bank of America raised their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Rosenblatt Securities lifted their target price on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Onsemi presently has a consensus rating of “Hold” and a consensus price target of $85.61.

Insider Buying and Selling

In other news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.