Healthcare of Ontario Pension Plan Trust Fund Has $56.58 Million Stock Holdings in Onsemi (NASDAQ:ON)

Healthcare of Ontario Pension Plan Trust Fund reduced its position in Onsemi (NASDAQ:ON) by 87.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 779,289 shares of the semiconductor company’s stock after selling 5,209,411 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Onsemi were worth $56,584,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Onsemi in the third quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Onsemi in the 3rd quarter valued at about $33,000. GHP Investment Advisors Inc. raised its holdings in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in 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 acquiring an additional 169 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Onsemi during the second quarter worth approximately $43,000. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ON. Benchmark reiterated a “buy” rating and set a $90.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. BNP Paribas dropped their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $87.00 price target on shares of Onsemi in a research note on Tuesday, November 19th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Mizuho set a $85.00 price objective on shares of Onsemi in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Stock Down 0.7 %

Shares of NASDAQ ON opened at $70.35 on Thursday. The stock has a 50-day moving average price of $70.24 and a two-hundred day moving average price of $71.81. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 7.76 and a beta of 1.65.

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

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 4,500 shares of company stock worth $321,765. Insiders own 0.31% of the company’s stock.

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.