China Universal Asset Management Co. Ltd. Buys 2,846 Shares of Onsemi (NASDAQ:ON)

China Universal Asset Management Co. Ltd. increased its position in Onsemi (NASDAQ:ON) by 110.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,433 shares of the semiconductor company’s stock after acquiring an additional 2,846 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Onsemi were worth $394,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Onsemi in the first quarter worth about $90,274,000. American Century Companies Inc. lifted its holdings in Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after purchasing an additional 909,558 shares in the last quarter. M&G Plc bought a new position in Onsemi in the 1st quarter worth approximately $57,900,000. Dimensional Fund Advisors LP grew its holdings in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Onsemi by 66.4% during the second quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after buying an additional 574,900 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Onsemi Stock Performance

Shares of Onsemi stock opened at $73.63 on Thursday. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $71.43 and its two-hundred day moving average is $71.49. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The company has a market capitalization of $31.54 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65.

Onsemi (NASDAQ:ON) last posted its quarterly 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 24.84% and a return on equity of 25.48%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $1.39 EPS. The firm’s revenue was down 19.2% compared to the same quarter last year. As a group, analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

ON has been the subject of several research analyst reports. TD Cowen cut their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Truist Financial reduced their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday. BNP Paribas dropped their price target on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.91.

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.