Harvest Fund Management Co. Ltd Purchases 6,681 Shares of Onsemi (NASDAQ:ON)

Harvest Fund Management Co. Ltd raised its position in shares of Onsemi (NASDAQ:ON) by 45.0% during the third quarter, HoldingsChannel.com reports. The fund owned 21,540 shares of the semiconductor company’s stock after buying an additional 6,681 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Onsemi were worth $1,564,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ON. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in Onsemi in the third quarter worth $33,000. GHP Investment Advisors Inc. grew its holdings in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Onsemi during the second quarter valued at about $43,000. Institutional investors own 97.70% of the company’s stock.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was 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 directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by company insiders.

Onsemi Stock Performance

ON stock opened at $72.39 on Tuesday. 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 firm has a market cap of $30.82 billion, a PE ratio of 17.96, a P/E/G ratio of 7.47 and a beta of 1.65. The business has a 50 day moving average of $70.25 and a 200-day moving average of $71.81. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77.

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

Analysts Set New Price Targets

Several brokerages have recently commented on ON. Bank of America raised their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley raised their price objective on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Mizuho set a $85.00 target price on Onsemi in a research report on Friday, October 18th. Loop Capital assumed coverage on Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.87.

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.