Tredje AP fonden Increases Stock Position in Onsemi (NASDAQ:ON)

Tredje AP fonden grew its holdings in Onsemi (NASDAQ:ON) by 320.5% during the 2nd quarter, according to its most recent Form 13F filing 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 quarter.

A number of other hedge funds have also modified their holdings of the business. Westside Investment Management Inc. increased its position in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Onsemi during the second quarter worth about $43,000. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi in the first quarter valued at approximately $45,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Onsemi during the second quarter valued at approximately $53,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ON has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Bank of America upped their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. TD Cowen increased their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Three research 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.61.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s 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 transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction 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 transaction, the insider now directly owns 231,092 shares in the company, valued at approximately $18,011,310.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction 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 disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Onsemi Price Performance

ON stock opened at $70.64 on Thursday. The stock has a 50-day simple moving average of $73.13 and a 200-day simple moving average of $72.29. The firm has a market cap of $30.39 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 3.72 and a beta of 1.66. 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 has a 1 year low of $59.34 and a 1 year high of $95.69.

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

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.