ICICI Prudential Asset Management Co Ltd Buys 865 Shares of Onsemi (NASDAQ:ON)

ICICI Prudential Asset Management Co Ltd raised its stake in Onsemi (NASDAQ:ON) by 18.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,591 shares of the semiconductor company’s stock after buying an additional 865 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Onsemi were worth $406,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ON. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Onsemi during the 3rd quarter valued at about $33,000. GHP Investment Advisors Inc. raised its stake in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 514 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in 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 in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Onsemi during the second quarter valued at about $43,000. 97.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ON. Morgan Stanley lifted their target price on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Needham & Company LLC lowered their price target on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Truist Financial cut their price objective on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Roth Mkm raised their price target on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Stock Performance

Shares of NASDAQ:ON opened at $68.49 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The firm has a market capitalization of $29.16 billion, a PE ratio of 17.00, a P/E/G ratio of 7.53 and a beta of 1.65. The business’s 50 day moving average price is $70.55 and its 200-day moving average price is $71.94.

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

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

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.