BDF Gestion Acquires New Position in Onsemi (NASDAQ:ON)

BDF Gestion acquired a new stake in Onsemi (NASDAQ:ON) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 54,354 shares of the semiconductor company’s stock, valued at approximately $3,726,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors bought a new position in shares of Onsemi during the fourth quarter valued at approximately $697,276,000. Norges Bank bought a new position in shares of Onsemi during the fourth quarter valued at approximately $418,102,000. Swedbank AB bought a new position in shares of Onsemi during the first quarter valued at approximately $90,274,000. Rafferty Asset Management LLC grew its holdings in shares of Onsemi by 35.6% during the fourth quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock valued at $249,717,000 after purchasing an additional 785,305 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Onsemi during the first quarter valued at approximately $57,900,000. 97.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research report on Thursday, June 13th. Stifel Nicolaus cut their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a research report on Thursday. Citigroup downgraded Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $77.00 in a research report on Monday, July 15th. Finally, KeyCorp cut their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.61.

Onsemi Stock Performance

ON stock traded down $0.93 during mid-day trading on Friday, reaching $71.30. 4,275,595 shares of the stock traded hands, compared to its average volume of 7,046,066. The company has a quick ratio of 1.87, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a 52 week low of $59.34 and a 52 week high of $101.30. The business has a 50-day moving average of $72.34 and a two-hundred day moving average of $73.06. The firm has a market capitalization of $30.68 billion, a PE ratio of 14.55, a P/E/G ratio of 3.12 and a beta of 1.69.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. As a group, equities analysts predict that Onsemi will post 4.01 EPS for the current fiscal year.

Insider Activity at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,850 shares of company stock worth $5,236,119. Company 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.