Sycomore Asset Management Boosts Holdings in Onsemi (NASDAQ:ON)

Sycomore Asset Management grew its holdings in shares of Onsemi (NASDAQ:ON) by 43.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,450 shares of the semiconductor company’s stock after acquiring an additional 13,512 shares during the quarter. Sycomore Asset Management’s holdings in Onsemi were worth $3,259,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its position in Onsemi by 6.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,306 shares of the semiconductor company’s stock valued at $894,000 after purchasing an additional 740 shares during the period. Metis Global Partners LLC boosted its holdings in shares of Onsemi by 1.8% during the 3rd quarter. Metis Global Partners LLC now owns 13,711 shares of the semiconductor company’s stock valued at $996,000 after buying an additional 237 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Onsemi by 11.9% during the 3rd quarter. Huntington National Bank now owns 3,039 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 323 shares in the last quarter. ROI Financial Advisors LLC boosted its holdings in shares of Onsemi by 3.6% during the 3rd quarter. ROI Financial Advisors LLC now owns 14,267 shares of the semiconductor company’s stock valued at $1,036,000 after buying an additional 491 shares in the last quarter. Finally, Pier 88 Investment Partners LLC boosted its holdings in shares of Onsemi by 30.7% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 16,380 shares of the semiconductor company’s stock valued at $1,189,000 after buying an additional 3,850 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ON. Morgan Stanley upped their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. BNP Paribas reduced their target price on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, Susquehanna boosted their price target on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s 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 transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by company insiders.

Onsemi Price Performance

NASDAQ ON traded down $0.86 on Thursday, reaching $67.63. 1,317,137 shares of the stock traded hands, compared to its average volume of 6,723,325. The firm’s fifty day simple moving average is $70.55 and its 200 day simple moving average is $71.94. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $28.80 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 7.53 and a beta of 1.65. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77.

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