Massachusetts Financial Services Co. MA Purchases 326,734 Shares of Onsemi (NASDAQ:ON)

Massachusetts Financial Services Co. MA lifted its position in shares of Onsemi (NASDAQ:ON) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,009,180 shares of the semiconductor company’s stock after purchasing an additional 326,734 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Onsemi were worth $145,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC lifted its holdings in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after buying an additional 18,450 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after acquiring an additional 88,496 shares during the period. Comerica Bank lifted its stake in shares of Onsemi by 21.1% in the 1st quarter. Comerica Bank now owns 98,781 shares of the semiconductor company’s stock valued at $7,265,000 after purchasing an additional 17,198 shares during the period. Deltec Asset Management LLC acquired a new position in shares of Onsemi during the second quarter worth approximately $1,212,000. Finally, Brighton Jones LLC lifted its holdings in shares of Onsemi by 116.6% in the third quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock valued at $1,878,000 after purchasing an additional 13,923 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Up 1.7 %

ON stock opened at $69.62 on Friday. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The firm has a market capitalization of $29.64 billion, a PE ratio of 17.28, a PEG ratio of 7.34 and a beta of 1.65. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $70.21 and a two-hundred day simple moving average of $71.79.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. On average, equities analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ON shares. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Mizuho set a $85.00 target price on shares of Onsemi in a research note on Friday, October 18th. Roth Mkm raised their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. TD Cowen cut their price target 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. Finally, Robert W. Baird increased their price objective on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

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.