Bridgewater Associates LP Increases Position in Onsemi (NASDAQ:ON)

Bridgewater Associates LP raised its position in Onsemi (NASDAQ:ON) by 8,367.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,123,041 shares of the semiconductor company’s stock after purchasing an additional 1,109,778 shares during the quarter. Bridgewater Associates LP owned 0.26% of Onsemi worth $81,544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ON. Natixis Advisors LLC increased its position in shares of Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after acquiring an additional 88,496 shares during the period. Comerica Bank increased its position in shares of Onsemi by 21.1% during the first quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock worth $7,265,000 after acquiring an additional 17,198 shares during the period. Deltec Asset Management LLC purchased a new stake in shares of Onsemi during the second quarter worth $1,212,000. Finally, Brighton Jones LLC increased its position in shares of Onsemi by 116.6% during the third quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock worth $1,878,000 after acquiring an additional 13,923 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ON. Morgan Stanley upped their price objective on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, KeyCorp lowered their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.87.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 4,500 shares of company stock worth $321,765. 0.31% of the stock is owned by insiders.

Onsemi Stock Down 2.2 %

ON stock opened at $70.82 on Wednesday. The company’s 50 day simple moving average is $70.25 and its 200-day simple moving average is $71.81. The firm has a market capitalization of $30.16 billion, a PE ratio of 17.57, a P/E/G ratio of 7.76 and a beta of 1.65. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 earnings per share. Equities analysts expect that Onsemi will post 4 earnings per share for the current fiscal 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.