E Fund Management Co. Ltd. Buys 3,341 Shares of Onsemi (NASDAQ:ON)

E Fund Management Co. Ltd. raised its stake in Onsemi (NASDAQ:ON) by 32.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,680 shares of the semiconductor company’s stock after buying an additional 3,341 shares during the period. E Fund Management Co. Ltd.’s holdings in Onsemi were worth $863,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ON. Capital Performance Advisors LLP acquired a new position in shares of Onsemi in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi in the 3rd quarter valued at about $33,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi in the 4th quarter valued at about $41,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Onsemi in the 3rd quarter valued at about $43,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Onsemi in the 4th quarter valued at about $51,000. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ON. Stifel Nicolaus dropped their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Roth Mkm dropped their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. B. Riley dropped their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. KeyCorp dropped their price target on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Onsemi has an average rating of “Moderate Buy” and a consensus target price of $67.12.

Onsemi Stock Performance

ON stock opened at $45.40 on Friday. The firm has a market cap of $19.13 billion, a PE ratio of 12.51, a P/E/G ratio of 16.74 and a beta of 1.59. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $54.00 and a 200-day moving average of $64.64. Onsemi has a 12-month low of $43.33 and a 12-month high of $83.64.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, sell-side analysts expect that Onsemi will post 2.6 earnings per share for the current 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.