Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,092 Shares of Onsemi (NASDAQ:ON)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Onsemi (NASDAQ:ON) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,330 shares of the semiconductor company’s stock after purchasing an additional 1,092 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Onsemi were worth $2,858,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ON. Nordea Investment Management AB grew its position in shares of Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after buying an additional 82,614 shares during the last quarter. Natixis Advisors LLC lifted its stake in Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares during the period. Cinctive Capital Management LP bought a new stake in Onsemi in the third quarter valued at $1,270,000. Blue Trust Inc. increased its position in Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after purchasing an additional 1,119 shares during the period. Finally, Oak Thistle LLC bought a new position in Onsemi in the 4th quarter worth $515,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by insiders.

Onsemi Price Performance

ON opened at $51.25 on Monday. The company’s 50-day simple moving average is $60.60 and its two-hundred day simple moving average is $67.49. Onsemi has a 52-week low of $49.80 and a 52-week high of $85.16. The stock has a market capitalization of $21.82 billion, a P/E ratio of 12.72, a P/E/G ratio of 10.27 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ON. KeyCorp reduced their price target on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group reduced their target price on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Loop Capital began coverage on Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. Wells Fargo & Company reduced their price target on Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Roth Mkm reissued a “buy” rating and set a $100.00 price objective on shares of Onsemi in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.50.

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.