Harvest Fund Management Co. Ltd Has $1.56 Million Stock Position in Onsemi (NASDAQ:ON)

Harvest Fund Management Co. Ltd lifted its position in Onsemi (NASDAQ:ON) by 45.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,540 shares of the semiconductor company’s stock after buying an additional 6,681 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Onsemi were worth $1,564,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Davis Investment Partners LLC boosted its stake in shares of Onsemi by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. Greenleaf Trust increased its holdings in shares of Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares during the last quarter. Meridian Financial Partners LLC raised its position in shares of Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Onsemi by 4.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after buying an additional 206 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ON. BNP Paribas lowered their price target on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and set a $87.00 target price on shares of Onsemi in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Two 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.87.

Onsemi Price Performance

ON stock opened at $72.39 on Tuesday. The stock has a market cap of $30.82 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 7.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The company has a 50 day simple moving average of $70.25 and a 200 day simple moving average of $71.81. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (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 the consensus estimate of $1.75 billion. During the same period in the prior year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. Research analysts anticipate that Onsemi will post 4 EPS for the current fiscal year.

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.