Onsemi (NASDAQ:ON) Holdings Trimmed by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its holdings in Onsemi (NASDAQ:ON) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,110 shares of the semiconductor company’s stock after selling 1,553 shares during the period. Gulf International Bank UK Ltd’s holdings in Onsemi were worth $2,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. grew its position in Onsemi by 12,850.0% during the third 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 in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Onsemi during the second quarter worth $43,000. Fidelis Capital Partners LLC acquired a new stake in Onsemi during the first quarter valued at $45,000. Finally, Oakworth Capital Inc. purchased a new position in Onsemi in the second quarter valued at about $53,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Up 2.9 %

Shares of ON opened at $72.27 on Thursday. The stock’s 50-day moving average price is $71.00 and its 200 day moving average price is $71.74. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $30.77 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 7.45 and a beta of 1.65. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $1.39 earnings per share. Onsemi’s revenue was down 19.2% on a year-over-year basis. As a group, research analysts predict that Onsemi will post 4 earnings per share for the current year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at $59,515,896. 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 at this hyperlink. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ON shares. Bank of America raised their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Mizuho set a $85.00 price target on shares of Onsemi in a research note on Friday, October 18th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Finally, Susquehanna upped their price objective on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Two equities research 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.91.

About Onsemi

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.