Onsemi (NASDAQ:ON) Shares Bought by Wahed Invest LLC

Wahed Invest LLC boosted its holdings in shares of Onsemi (NASDAQ:ON) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,424 shares of the semiconductor company’s stock after acquiring an additional 1,348 shares during the period. Wahed Invest LLC’s holdings in Onsemi were worth $757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its position in shares of Onsemi by 1.4% in the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares during the last quarter. Cinctive Capital Management LP acquired a new position in shares of Onsemi in the third quarter valued at approximately $1,270,000. Assenagon Asset Management S.A. raised its position in shares of Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after buying an additional 88,496 shares during the last quarter. Deltec Asset Management LLC acquired a new position in shares of Onsemi in the second quarter valued at approximately $1,212,000. Finally, Brighton Jones LLC raised its position in shares of Onsemi by 116.6% in the third quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock valued at $1,878,000 after buying an additional 13,923 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

ON has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a research report on Tuesday, November 19th. Robert W. Baird boosted their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Mizuho set a $85.00 target price on shares of Onsemi in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.87.

Onsemi Price Performance

Shares of ON stock opened at $66.52 on Friday. The company has a market capitalization of $28.32 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 7.07 and a beta of 1.63. The firm has a fifty day simple moving average of $69.89 and a 200-day simple moving average of $71.60. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77.

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

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 4,500 shares of company stock worth $321,765. 0.31% of the stock is currently 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.