TT International Asset Management LTD Reduces Holdings in Onsemi (NASDAQ:ON)

TT International Asset Management LTD decreased its position in Onsemi (NASDAQ:ON) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,523 shares of the semiconductor company’s stock after selling 2,308 shares during the period. TT International Asset Management LTD’s holdings in Onsemi were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Onsemi by 18.7% in 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 purchasing an additional 665,633 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after purchasing an additional 31,889 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ON. KeyCorp cut their price target on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. The Goldman Sachs Group dropped their price objective on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday. Truist Financial restated a “hold” rating and issued a $60.00 price objective (down from $85.00) on shares of Onsemi in a research note on Friday. Wells Fargo & Company began coverage on shares of Onsemi in a report on Friday, November 22nd. They issued an “overweight” rating and a $85.00 target price on the stock. Finally, TD Cowen decreased their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.43.

Onsemi Price Performance

Shares of ON stock opened at $53.94 on Monday. The company has a market capitalization of $22.97 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. The firm has a fifty day simple moving average of $66.86 and a 200-day simple moving average of $70.29. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a twelve month low of $53.60 and a twelve month high of $85.16.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $1.39 EPS. The firm’s revenue was down 19.2% compared to the same quarter last year. Equities research analysts anticipate that Onsemi will post 4 earnings per share 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.