Massmutual Trust Co. FSB ADV Acquires 169 Shares of Onsemi (NASDAQ:ON)

Massmutual Trust Co. FSB ADV increased its stake in shares of Onsemi (NASDAQ:ON) by 36.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 629 shares of the semiconductor company’s stock after buying an additional 169 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Onsemi were worth $43,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Onsemi during the 4th quarter valued at $32,000. Private Wealth Management Group LLC bought a new stake in Onsemi in the 4th quarter valued at about $33,000. MeadowBrook Investment Advisors LLC purchased a new stake in Onsemi during the fourth quarter valued at about $33,000. Westside Investment Management Inc. raised its position in shares of Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Onsemi during the 1st quarter valued at approximately $45,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Trading Down 0.7 %

Shares of ON opened at $68.51 on Wednesday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $104.87. The firm has a market cap of $29.48 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 3.12 and a beta of 1.69. The firm has a 50 day moving average price of $72.43 and a 200-day moving average price of $73.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 3.01.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Onsemi will post 4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

ON has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 price objective on shares of Onsemi in a research note on Thursday, June 13th. Mizuho dropped their price objective on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Truist Financial lifted their target price on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Susquehanna increased their price target on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.61.

Insider Activity at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction 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 completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $67,833.06. Following the sale, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The disclosure for this sale can be found here. Insiders sold 69,850 shares of company stock worth $5,236,119 in the last ninety days. 0.31% of the stock is owned by company insiders.

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.