Onsemi (NASDAQ:ON) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC increased its stake in Onsemi (NASDAQ:ON) by 19.5% during the first quarter, HoldingsChannel.com reports. The fund owned 41,640 shares of the semiconductor company’s stock after buying an additional 6,792 shares during the period. Tidal Investments LLC’s holdings in Onsemi were worth $3,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Turtle Creek Wealth Advisors LLC bought a new position in Onsemi during the fourth quarter valued at about $32,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Onsemi in the 4th quarter valued at $33,000. Private Wealth Management Group LLC acquired a new position in shares of Onsemi in the 4th quarter valued at $33,000. Westside Investment Management Inc. raised its stake in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after buying an additional 550 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in Onsemi during the 1st quarter worth $45,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Stock Performance

Shares of ON traded down $4.66 during mid-day trading on Thursday, hitting $73.59. 2,629,048 shares of the company traded hands, compared to its average volume of 6,935,295. Onsemi has a 1 year low of $59.34 and a 1 year high of $107.16. The stock has a market cap of $31.52 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 3.22 and a beta of 1.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 3.01. The stock has a 50-day moving average price of $72.65 and a two-hundred day moving average price of $73.19.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. Equities analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a report on Tuesday. Benchmark raised their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus cut their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. The Goldman Sachs Group cut their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, Bank of America lifted their price target on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.63.

Insider Transactions at Onsemi

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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.