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

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Onsemi (NASDAQ:ON) by 87.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 779,289 shares of the semiconductor company’s stock after selling 5,209,411 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.18% of Onsemi worth $56,584,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swedbank AB bought a new stake in Onsemi in the first quarter valued at $90,274,000. Bridgewater Associates LP boosted its position in Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after buying an additional 1,109,778 shares in the last quarter. American Century Companies Inc. grew its stake in Onsemi by 451.3% during 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 last quarter. Van ECK Associates Corp increased its holdings in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after buying an additional 729,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Onsemi by 18.7% in 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 in the last quarter. 97.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Onsemi in a report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price target for the company. KeyCorp cut their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. BNP Paribas reduced their price target on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Truist Financial reduced their target price on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Stock Performance

Shares of ON stock opened at $70.35 on Thursday. The stock has a 50-day moving average of $70.24 and a 200-day moving average of $71.81. Onsemi has a one year low of $59.34 and a one year high of $86.77. The stock has a market cap of $29.95 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 7.76 and a beta of 1.65. 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 announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. As a group, sell-side analysts expect that Onsemi will post 4 earnings per share for the current year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 4,500 shares of company stock worth $321,765. Corporate insiders own 0.31% of the company’s stock.

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.