Safe Harbor Fiduciary LLC Invests $43,000 in Onsemi (NASDAQ:ON)

Safe Harbor Fiduciary LLC bought a new stake in Onsemi (NASDAQ:ON) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 597 shares of the semiconductor company’s stock, valued at approximately $43,000.

Other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC lifted its stake in Onsemi by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Onsemi by 690.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after acquiring an additional 88,496 shares during the period. Cinctive Capital Management LP bought a new position in Onsemi in the 3rd quarter valued at about $1,270,000. Deltec Asset Management LLC bought a new position in Onsemi in the 2nd quarter valued at about $1,212,000. Finally, Brighton Jones LLC raised its holdings in Onsemi by 116.6% in the 3rd quarter. Brighton Jones LLC now owns 25,859 shares of the semiconductor company’s stock valued at $1,878,000 after acquiring an additional 13,923 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ON has been the topic of several research analyst reports. Mizuho set a $85.00 price target on shares of Onsemi in a report on Friday, October 18th. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Wells Fargo & Company began coverage on shares of Onsemi in a report on Friday, November 22nd. They set an “overweight” rating and a $85.00 target price on the stock. 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 report on Tuesday, October 29th. Finally, Robert W. Baird raised their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.87.

Onsemi Price Performance

Shares of NASDAQ ON opened at $65.97 on Thursday. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The firm has a fifty day simple moving average of $70.20 and a 200 day simple moving average of $71.70. The company has a market capitalization of $28.09 billion, a PE ratio of 16.37, a P/E/G ratio of 7.49 and a beta of 1.63. 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 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 business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm earned $1.39 earnings per share. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. On average, sell-side analysts forecast that Onsemi will post 4 EPS for the current year.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 4,500 shares of company stock worth $321,765 over the last three months. 0.31% of the stock is currently owned by insiders.

Onsemi 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.