Onsemi (NASDAQ:ON) Shares Purchased by Atom Investors LP

Atom Investors LP raised its holdings in Onsemi (NASDAQ:ON) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,827 shares of the semiconductor company’s stock after buying an additional 1,153 shares during the period. Atom Investors LP’s holdings in Onsemi were worth $3,110,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 4,500 shares of company stock worth $321,765. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial decreased their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Wells Fargo & Company started coverage on shares of Onsemi in a research report on Friday, November 22nd. They set an “overweight” rating and a $85.00 target price on the stock. TD Cowen decreased their price target 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 reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Price Performance

Onsemi stock opened at $71.12 on Monday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $70.20 and its 200 day simple moving average is $71.77. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The firm has a market capitalization of $30.28 billion, a PE ratio of 17.65, a P/E/G ratio of 7.63 and a beta of 1.65.

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

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.