Nordea Investment Management AB Raises Position in Onsemi (NASDAQ:ON)

Nordea Investment Management AB boosted its position in Onsemi (NASDAQ:ON) by 25.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 402,124 shares of the semiconductor company’s stock after purchasing an additional 82,614 shares during the period. Nordea Investment Management AB’s holdings in Onsemi were worth $25,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ON. Capital Performance Advisors LLP bought a new position in Onsemi in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Onsemi during the third quarter worth $33,000. GHP Investment Advisors Inc. boosted its holdings in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of Onsemi in the third quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Onsemi by 42.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 269 shares during the period. 97.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ON. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Roth Mkm reiterated a “buy” rating and issued a $100.00 target price on shares of Onsemi in a research note on Thursday, December 12th. KeyCorp cut their price target on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Mizuho set a $85.00 price target on shares of Onsemi in a report on Friday, October 18th. Finally, TD Cowen reduced their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Stock Performance

Shares of ON stock opened at $62.73 on Wednesday. The company has a market capitalization of $26.71 billion, a P/E ratio of 15.57, a PEG ratio of 7.07 and a beta of 1.64. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a 50 day moving average price of $67.75 and a two-hundred day moving average price of $70.52.

Onsemi (NASDAQ:ON) last posted its quarterly 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. The company 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 firm’s revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. Analysts expect that Onsemi will post 4 earnings per share for the current year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Onsemi Company 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.