Onsemi (NASDAQ:ON) Shares Bought by Empirical Finance LLC

Empirical Finance LLC grew its stake in shares of Onsemi (NASDAQ:ON) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,706 shares of the semiconductor company’s stock after acquiring an additional 491 shares during the period. Empirical Finance LLC’s holdings in Onsemi were worth $632,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ON. Capital Performance Advisors LLP acquired a new stake in Onsemi in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Onsemi in the third quarter valued at approximately $33,000. GHP Investment Advisors Inc. raised its position in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Onsemi during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Mizuho set a $85.00 price objective on shares of Onsemi in a research report on Friday, October 18th. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, BNP Paribas reduced their price target on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Price Performance

ON opened at $64.76 on Monday. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The company has a 50 day moving average of $70.43 and a two-hundred day moving average of $71.89. The company has a market cap of $27.57 billion, a P/E ratio of 16.07, a P/E/G ratio of 6.94 and a beta of 1.65. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company earned $1.39 EPS. The firm’s revenue was down 19.2% on a year-over-year basis. On average, analysts expect that Onsemi will post 4 earnings per share for the current 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.