Onsemi (NASDAQ:ON) Shares Acquired by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lifted its stake in Onsemi (NASDAQ:ON) by 23.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,709 shares of the semiconductor company’s stock after purchasing an additional 17,020 shares during the quarter. Onsemi comprises about 1.4% of Iridian Asset Management LLC CT’s holdings, making the stock its 21st largest holding. Iridian Asset Management LLC CT’s holdings in Onsemi were worth $6,586,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Davis Investment Partners LLC boosted its holdings in Onsemi by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Greenleaf Trust grew its position in Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after acquiring an additional 173 shares during the period. Covestor Ltd increased its stake in Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 190 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its position in Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by company insiders.

Onsemi Price Performance

Shares of ON opened at $73.63 on Thursday. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 3.82 and a beta of 1.65. The firm’s fifty day simple moving average is $71.43 and its 200-day simple moving average is $71.49. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. Equities analysts forecast that Onsemi will post 4.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday. Robert W. Baird boosted their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday. Needham & Company LLC lowered their price objective on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi 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.