Van ECK Associates Corp Purchases 729,081 Shares of Onsemi (NASDAQ:ON)

Van ECK Associates Corp lifted its position in Onsemi (NASDAQ:ON) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,495,056 shares of the semiconductor company’s stock after purchasing an additional 729,081 shares during the quarter. Van ECK Associates Corp owned 0.82% of Onsemi worth $237,559,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ON. Swedbank AB bought a new stake in Onsemi during the 1st quarter worth about $90,274,000. American Century Companies Inc. grew its holdings in Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after acquiring an additional 909,558 shares during the last quarter. M&G Plc bought a new stake in Onsemi during the 1st quarter worth about $57,900,000. Dimensional Fund Advisors LP grew its holdings in Onsemi by 18.7% during 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 during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after acquiring an additional 574,900 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Onsemi Stock Performance

Onsemi stock traded up $0.50 during mid-day trading on Friday, hitting $70.99. 5,551,376 shares of the company’s stock traded hands, compared to its average volume of 7,133,169. The firm has a 50 day simple moving average of $71.27 and a two-hundred day simple moving average of $71.52. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The stock has a market cap of $30.23 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 7.56 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 1.95.

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

Wall Street Analysts Forecast Growth

ON has been the topic of a number of research reports. Truist Financial cut 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. Mizuho set a $85.00 target price on shares of Onsemi in a research report on Friday, October 18th. Robert W. Baird upped their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Roth Mkm increased their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.91.

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.