Swiss National Bank Has $92.72 Million Stock Position in Onsemi (NASDAQ:ON)

Swiss National Bank grew its stake in shares of Onsemi (NASDAQ:ON) by 0.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,277,000 shares of the semiconductor company’s stock after acquiring an additional 11,700 shares during the period. Swiss National Bank’s holdings in Onsemi were worth $92,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of Onsemi during the first quarter valued at about $90,274,000. American Century Companies Inc. raised its holdings in shares of Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after purchasing an additional 909,558 shares during the period. Van ECK Associates Corp raised its holdings in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after acquiring an additional 729,081 shares during the last quarter. Dimensional Fund Advisors LP raised 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 during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Onsemi by 66.4% in 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.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ON shares. Robert W. Baird upped their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Mizuho set a $85.00 target price on shares of Onsemi in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi Stock Performance

Onsemi stock opened at $66.48 on Tuesday. The firm’s fifty day moving average price is $70.37 and its 200-day moving average price is $71.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market cap of $28.31 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 6.94 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77.

Onsemi (NASDAQ:ON) last released its 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. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm earned $1.39 EPS. The firm’s quarterly revenue was down 19.2% compared to the same quarter last year. On average, equities research 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.