Onsemi (NASDAQ:ON) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in Onsemi (NASDAQ:ON) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,610 shares of the semiconductor company’s stock after buying an additional 637 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Onsemi were worth $798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC increased its position in shares of Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after purchasing an additional 82,301 shares in the last quarter. State of Michigan Retirement System increased its position in Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after acquiring an additional 4,900 shares during the period. Synergy Asset Management LLC increased its position in Onsemi by 91.5% in the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after acquiring an additional 73,909 shares during the period. Handelsinvest Investeringsforvaltning acquired a new position in Onsemi in the 4th quarter valued at about $1,137,000. Finally, Chicago Capital LLC acquired a new position in Onsemi in the 4th quarter valued at about $3,860,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ON. BNP Paribas reaffirmed an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a report on Friday. Wells Fargo & Company decreased their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho decreased their price target on Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. The Goldman Sachs Group decreased their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.28.

Onsemi Trading Up 1.7 %

Shares of ON stock traded up $1.03 on Tuesday, reaching $61.68. 6,890,262 shares of the stock were exchanged, compared to its average volume of 7,314,261. The stock has a market cap of $26.51 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $73.93 and a two-hundred day moving average of $75.84. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm posted $1.32 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, research analysts anticipate that Onsemi will post 4.31 EPS for the current 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.