E Fund Management Co. Ltd. Purchases 5,705 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Key Points

• E Fund Management Co. Ltd. increased its holdings in ON Semiconductor by 41.7%, acquiring an additional 5,705 shares during the first quarter, bringing their total to 19,385 shares worth $789,000.
• The recent quarterly earnings report for ON Semiconductor showed a miss on EPS estimates at $0.53, while revenue of $1.47 billion exceeded expectations but was down 15.4% year-over-year.
• Despite recent earnings challenges, analysts have mixed ratings on ON Semiconductor, with a consensus rating of "Hold" and a price target average of $56.84 among fifteen analysts.

E Fund Management Co. Ltd. boosted its position in shares of ON Semiconductor Corporation (NASDAQ:ON - Free Report) by 41.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,385 shares of the semiconductor company's stock after acquiring an additional 5,705 shares during the quarter. E Fund Management Co. Ltd.'s holdings in ON Semiconductor were worth $789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ON. Golden State Wealth Management LLC increased its holdings in shares of ON Semiconductor by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 320 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of ON Semiconductor by 4.8% in the first quarter. Avantax Advisory Services Inc. now owns 10,026 shares of the semiconductor company's stock valued at $408,000 after purchasing an additional 463 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of ON Semiconductor in the first quarter valued at $222,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of ON Semiconductor by 15.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company's stock valued at $1,070,000 after purchasing an additional 2,209 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of ON Semiconductor by 57.0% in the first quarter. Exchange Traded Concepts LLC now owns 6,482 shares of the semiconductor company's stock valued at $264,000 after purchasing an additional 2,353 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

ON Semiconductor Stock Up 3.8%

Shares of NASDAQ ON opened at $51.89 on Thursday. The company has a 50 day simple moving average of $54.51 and a 200 day simple moving average of $47.47. The firm has a market cap of $21.22 billion, a PE ratio of 48.50, a price-to-earnings-growth ratio of 2.49 and a beta of 1.45. ON Semiconductor Corporation has a 1 year low of $31.04 and a 1 year high of $78.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.37.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.01). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.45 billion. ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The firm's quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. On average, research analysts forecast that ON Semiconductor Corporation will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America reiterated a "neutral" rating and issued a $56.00 price objective (down from $70.00) on shares of ON Semiconductor in a report on Tuesday, August 5th. TD Cowen decreased their price objective on shares of ON Semiconductor from $68.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Morgan Stanley initiated coverage on shares of ON Semiconductor in a report on Monday, May 12th. They issued an "equal weight" rating and a $39.00 price objective on the stock. Needham & Company LLC upped their price target on shares of ON Semiconductor from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Benchmark restated a "buy" rating and issued a $60.00 price target (up from $50.00) on shares of ON Semiconductor in a research note on Tuesday, August 5th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, ON Semiconductor presently has a consensus rating of "Hold" and a consensus target price of $56.84.

ON Semiconductor 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.

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