E Fund Management Co. Ltd. Sells 4,193 Shares of Onsemi (NASDAQ:ON)

E Fund Management Co. Ltd. reduced its stake in shares of Onsemi (NASDAQ:ON) by 36.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,316 shares of the semiconductor company’s stock after selling 4,193 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Onsemi were worth $611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Provence Wealth Management Group acquired a new stake in Onsemi during the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at $32,000. MeadowBrook Investment Advisors LLC bought a new position in shares of Onsemi in the fourth quarter valued at about $33,000. Hanseatic Management Services Inc. acquired a new position in Onsemi during the 3rd quarter worth about $38,000. Finally, Headinvest LLC bought a new stake in Onsemi during the 3rd quarter worth about $44,000. 97.70% of the stock is owned by institutional investors.

Onsemi Stock Performance

Shares of NASDAQ:ON traded down $0.12 during trading on Wednesday, reaching $70.67. 4,059,301 shares of the stock were exchanged, compared to its average volume of 7,487,099. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The stock has a 50-day moving average price of $71.95 and a 200-day moving average price of $74.30. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The firm has a market cap of $30.40 billion, a PE ratio of 14.42, a PEG ratio of 3.18 and a beta of 1.78.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. Research analysts expect that Onsemi will post 3.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ON shares. Deutsche Bank Aktiengesellschaft dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Morgan Stanley reduced their target price on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company dropped their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. TD Cowen reduced their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, BNP Paribas reiterated an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.24.

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.