E Fund Management Co. Ltd. Sells 4,370 Shares of Onsemi (NASDAQ:ON)

E Fund Management Co. Ltd. reduced its holdings in shares of Onsemi (NASDAQ:ON) by 33.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,663 shares of the semiconductor company’s stock after selling 4,370 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Onsemi were worth $594,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Westside Investment Management Inc. boosted its stake in Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC bought a new stake in Onsemi in the 2nd quarter valued at $43,000. Fidelis Capital Partners LLC bought a new stake in Onsemi in the 1st quarter valued at $45,000. Finally, Oakworth Capital Inc. bought a new stake in Onsemi in the 2nd quarter valued at $53,000. 97.70% of the stock is currently owned by institutional investors.

Insider Activity at Onsemi

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

Onsemi Trading Down 1.1 %

NASDAQ ON opened at $70.64 on Thursday. The business’s 50-day moving average price is $73.13 and its two-hundred day moving average price is $72.29. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.69. The firm has a market capitalization of $30.39 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 3.72 and a beta of 1.66. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $1.33 EPS. The business’s revenue was down 17.2% on a year-over-year basis. On average, analysts expect that Onsemi will post 4.01 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on ON. Deutsche Bank Aktiengesellschaft boosted their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Roth Mkm lifted their price objective on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. KeyCorp dropped their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a report on Thursday, June 13th. Finally, Rosenblatt Securities lifted their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.61.

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.