Onsemi (NASDAQ:ON) Shares Acquired by Hodges Capital Management Inc.

Hodges Capital Management Inc. raised its holdings in shares of Onsemi (NASDAQ:ON) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 183,314 shares of the semiconductor company’s stock after purchasing an additional 537 shares during the quarter. Hodges Capital Management Inc.’s holdings in Onsemi were worth $13,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Onsemi during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in Onsemi during the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. boosted its stake in Onsemi by 12,850.0% during the 3rd 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 during the last quarter. International Assets Investment Management LLC acquired a new position in Onsemi during the 2nd quarter worth $43,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of Onsemi in the 3rd quarter valued at about $43,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ON has been the subject of a number of research reports. BNP Paribas decreased their price target on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. TD Cowen decreased their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Rosenblatt Securities reissued a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Morgan Stanley lifted their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, Loop Capital began coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,500 shares of company stock worth $321,765 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Price Performance

NASDAQ ON opened at $66.52 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a market capitalization of $28.32 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 7.07 and a beta of 1.63. The company has a 50 day simple moving average of $69.89 and a 200-day simple moving average of $71.59. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) 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 company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s revenue was down 19.2% compared to the same quarter last year. Equities research 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.