Van ECK Associates Corp Has $237.56 Million Position in Onsemi (NASDAQ:ON)

Van ECK Associates Corp increased its position in Onsemi (NASDAQ:ON) by 26.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,495,056 shares of the semiconductor company’s stock after acquiring an additional 729,081 shares during the quarter. Van ECK Associates Corp’s holdings in Onsemi were worth $237,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ON. GHP Investment Advisors Inc. increased its position in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Onsemi by 36.7% during the 2nd 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 during the period. International Assets Investment Management LLC bought a new position in shares of Onsemi during the 2nd quarter worth approximately $43,000. Fidelis Capital Partners LLC bought a new position in shares of Onsemi during the 1st quarter worth approximately $45,000. Finally, Oakworth Capital Inc. bought a new position in shares of Onsemi during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ON. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. Benchmark reiterated a “buy” rating and issued a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Morgan Stanley increased their target price on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. BNP Paribas cut their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated 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 sale, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of Onsemi stock traded up $0.50 during trading hours 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. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The stock has a market capitalization of $30.23 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 7.56 and a beta of 1.65. The company has a fifty day simple moving average of $71.27 and a 200-day simple moving average of $71.52. 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 announced 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 company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm posted $1.39 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. Equities research analysts anticipate that Onsemi will post 4 EPS 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.