Onsemi (NASDAQ:ON) Shares Bought by Thematics Asset Management

Thematics Asset Management grew its stake in Onsemi (NASDAQ:ON) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,903 shares of the semiconductor company’s stock after purchasing an additional 11,996 shares during the period. Thematics Asset Management’s holdings in Onsemi were worth $13,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ON. Rock Point Advisors LLC acquired a new position in Onsemi in the third quarter valued at about $2,233,000. Brooklyn Investment Group acquired a new stake in shares of Onsemi in the third quarter valued at $126,000. D.A. Davidson & CO. lifted its stake in Onsemi by 8.5% during the 3rd quarter. D.A. Davidson & CO. now owns 7,061 shares of the semiconductor company’s stock worth $513,000 after acquiring an additional 552 shares in the last quarter. West Tower Group LLC purchased a new position in Onsemi during the 3rd quarter valued at about $145,000. Finally, Mirabella Financial Services LLP acquired a new position in Onsemi in the 3rd quarter valued at about $7,262,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

Shares of NASDAQ ON traded down $0.46 during midday trading on Tuesday, reaching $71.93. 471,215 shares of the company were exchanged, compared to its average volume of 6,681,699. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The stock has a fifty day simple moving average of $70.25 and a 200 day simple moving average of $71.81. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a market cap of $30.63 billion, a P/E ratio of 17.96, a PEG ratio of 7.47 and a beta of 1.65.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the business earned $1.39 EPS. The business’s revenue was down 19.2% on a year-over-year basis. On average, research analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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 in the company, valued at $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ON has been the subject of several recent research reports. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Loop Capital began coverage on shares of Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Robert W. Baird boosted their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, TD Cowen reduced their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.87.

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.