Top 5 Stock Picks of Steve Zheng’s Deepcurrents Investment Group

3. ON Semiconductor Corporation (NASDAQ:ON)

Deepcurrents Investment Group’s Stake Value: $14.39 million

Percentage of Deepcurrents Investment Group’s 13F portfolio: 0.42%

Total Number of Hedge Fund Holders: 44

Then there’s On Semiconductor Corporation (NASDAQ: ON), which deals in the provision of semiconductor components for a range of technological devices. The company is headquartered in Phoenix, Arizona, and operates through its segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

In Q3 2021, On Semiconductor Corporation (NASDAQ: ON) posted an EPS of $0.87, beating estimates by $0.13.

On November 2, research firm BMO Capital kept its ‘Market Perform’ rating on the company stock, raising the price target to $50 from $45.

As of Q2 2021, 44 hedge funds held positions worth $1.02 billion in On Semiconductor Corporation (NASDAQ: ON), as compared to the previous quarter where 41 hedge funds held $1.27 billion worth of positions in the company. This data was derived from Insider Monkey’s database of 873 hedge funds.