Fisher Asset Management LLC Grows Stake in Onsemi (NASDAQ:ON)

Fisher Asset Management LLC increased its holdings in Onsemi (NASDAQ:ON) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,633 shares of the semiconductor company’s stock after purchasing an additional 18,723 shares during the period. Fisher Asset Management LLC’s holdings in Onsemi were worth $23,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ON. Swedbank AB bought a new stake in shares of Onsemi during the first quarter valued at approximately $90,274,000. American Century Companies Inc. increased its holdings in Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after acquiring an additional 909,558 shares during the last quarter. Van ECK Associates Corp lifted its stake in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Onsemi by 66.4% in the second quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after purchasing an additional 574,900 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 4,500 shares of company stock worth $321,765. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Stock Down 0.7 %

Shares of NASDAQ:ON opened at $70.35 on Thursday. The business’s 50 day moving average is $70.24 and its 200 day moving average is $71.81. The stock has a market cap of $29.95 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 7.76 and a beta of 1.65. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.39 EPS. Sell-side analysts predict that Onsemi will post 4 EPS for the current year.

Wall Street Analyst Weigh In

ON has been the subject of several research analyst reports. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Robert W. Baird upped their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. TD Cowen reduced their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Loop Capital started coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.87.

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.