onsemi $ON Holdings Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in onsemi (NASDAQ:ON) by 7.4% during the third quarter, Holdings Channel.com reports. The fund owned 4,550,913 shares of the semiconductor company’s stock after buying an additional 314,203 shares during the period. Pictet Asset Management Holding SA’s holdings in onsemi were worth $349,788,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC boosted its position in onsemi by 10.9% during the first quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company’s stock valued at $848,392,000 after purchasing an additional 1,345,894 shares during the last quarter. Van ECK Associates Corp grew its stake in onsemi by 16.6% in the second quarter. Van ECK Associates Corp now owns 5,143,343 shares of the semiconductor company’s stock valued at $486,252,000 after purchasing an additional 731,540 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of onsemi by 74.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,807,808 shares of the semiconductor company’s stock worth $265,450,000 after purchasing an additional 1,201,534 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of onsemi by 6.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,442,177 shares of the semiconductor company’s stock worth $212,997,000 after purchasing an additional 207,587 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of onsemi by 5.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,544,424 shares of the semiconductor company’s stock worth $95,631,000 after purchasing an additional 85,433 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

More onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s AI data-center sales were reportedly up 175%, giving investors a fast-growing business line to watch as demand for AI infrastructure supports semiconductor suppliers. Article: Onsemi’s AI Data Center Sales Reportedly Grew 175%
• Neutral Sentiment: Analyst opinions are divided: Craig Hallum upgraded the stock and Truist maintained an optimistic outlook, while TD Cowen and Cantor Fitzgerald were more cautious. This mix may limit the impact of any one rating on the shares. Article: onsemi Rating Upgraded by Craig Hallum
• Negative Sentiment: Several firms have lowered price expectations, including Citigroup, B. Riley, Goldman Sachs and Mizuho, signaling continued concern about valuation or the near-term outlook. Article: onsemi Price Target Cut by Citigroup
• Negative Sentiment: onsemi has also been caught in a broader post-midterm selloff in AI-related semiconductor stocks, alongside Navitas and STMicroelectronics; the report cited no new company-specific news behind that sector pressure. Article: AI Chip Stocks Slide After Midterms

Insider Activity at onsemi

In other news, insider Sudhir Gopalswamy sold 15,578 shares of onsemi stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the transaction, the insider directly owned 158,177 shares in the company, valued at approximately $12,654,160. The trade was a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ON. Citigroup dropped their price objective on onsemi from $98.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday. Robert W. Baird raised their target price on shares of onsemi from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Truist Financial boosted their target price on shares of onsemi from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Tuesday, November 3rd. Stifel Nicolaus upped their price target on shares of onsemi from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded shares of onsemi from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.03.

onsemi Trading Up 0.5%

onsemi stock opened at $63.31 on Friday. onsemi has a 52 week low of $44.56 and a 52 week high of $134.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.49 and a current ratio of 3.55. The stock has a market capitalization of $24.65 billion, a P/E ratio of 36.81, a PEG ratio of 0.51 and a beta of 2.11. The stock has a 50-day simple moving average of $74.22 and a 200 day simple moving average of $82.16.

onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. onsemi had a return on equity of 15.53% and a net margin of 10.82%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. Analysts expect that onsemi will post 3.27 earnings per share for the current 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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.