BluePath Capital Management LLC Grows Stake in Onsemi (NASDAQ:ON)

BluePath Capital Management LLC lifted its holdings in shares of Onsemi (NASDAQ:ON) by 23.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,196 shares of the semiconductor company’s stock after acquiring an additional 2,139 shares during the quarter. BluePath Capital Management LLC’s holdings in Onsemi were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in Onsemi by 39.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,299 shares of the semiconductor company’s stock worth $978,000 after acquiring an additional 3,735 shares during the period. Norden Group LLC bought a new position in shares of Onsemi in the 1st quarter worth $774,000. First Trust Direct Indexing L.P. increased its holdings in shares of Onsemi by 9.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,130 shares of the semiconductor company’s stock worth $892,000 after buying an additional 1,059 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Onsemi in the 1st quarter worth $45,000. Finally, Nordea Investment Management AB increased its holdings in shares of Onsemi by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 283,225 shares of the semiconductor company’s stock worth $21,120,000 after buying an additional 14,011 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. KeyCorp dropped their price target on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Roth Mkm increased their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $77.00 in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Stock Up 0.7 %

NASDAQ:ON opened at $70.99 on Friday. The firm has a market cap of $30.23 billion, a P/E ratio of 17.62, a P/E/G ratio of 7.89 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 3.07. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The firm has a 50-day simple moving average of $71.27 and a two-hundred day simple moving average of $71.52.

Onsemi (NASDAQ:ON) last released its quarterly earnings data 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Onsemi’s revenue was down 19.2% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. Analysts predict that Onsemi will post 4 earnings per share for the current fiscal year.

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.