Fisher Asset Management LLC Boosts Stock Position in Onsemi (NASDAQ:ON)

Fisher Asset Management LLC boosted its holdings in shares of Onsemi (NASDAQ:ON) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318,633 shares of the semiconductor company’s stock after purchasing an additional 18,723 shares during the period. Fisher Asset Management LLC owned about 0.07% of Onsemi worth $23,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ON. Swedbank AB purchased a new stake in shares of Onsemi in the 1st quarter worth about $90,274,000. American Century Companies Inc. lifted its holdings in Onsemi by 451.3% in the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after buying an additional 909,558 shares during the period. Van ECK Associates Corp boosted its position in Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Dimensional Fund Advisors LP grew 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 worth $289,088,000 after acquiring an additional 665,633 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after acquiring an additional 574,900 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ON. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Robert W. Baird increased their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and set a $87.00 price target on shares of Onsemi in a research report on Tuesday, November 19th. Mizuho set a $85.00 price objective on shares of Onsemi in a report on Friday, October 18th. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $85.87.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,500 shares of company stock valued at $321,765 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Onsemi Stock Down 0.7 %

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

Onsemi (NASDAQ:ON) last posted its quarterly earnings data 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. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The firm’s revenue was down 19.2% compared to the same quarter last year. As a group, analysts forecast that Onsemi will post 4 earnings per share for the current year.

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.