Olstein Capital Management L.P. Invests $4.79 Million in Onsemi (NASDAQ:ON)

Olstein Capital Management L.P. acquired a new position in Onsemi (NASDAQ:ON) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 76,000 shares of the semiconductor company’s stock, valued at approximately $4,792,000.

Other large investors have also recently bought and sold shares of the company. Davis Investment Partners LLC lifted its holdings in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 142 shares in the last quarter. Greenleaf Trust raised its position in shares of Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 173 shares during the period. Meridian Financial Partners LLC boosted its holdings in shares of Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after acquiring an additional 192 shares during the period. Dynamic Advisor Solutions LLC increased its position in Onsemi by 4.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock worth $350,000 after buying an additional 206 shares during the period. Finally, Sentry Investment Management LLC increased its holdings in shares of Onsemi by 3.0% during the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ON. The Goldman Sachs Group lowered their price target on Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 10th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. TD Cowen lowered their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $87.00 price target on shares of Onsemi in a report on Tuesday, November 19th. Finally, BNP Paribas dropped their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $81.70.

Onsemi Stock Down 3.1 %

Shares of ON opened at $54.50 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market capitalization of $23.21 billion, a PE ratio of 13.52, a P/E/G ratio of 10.62 and a beta of 1.64. The company’s 50-day simple moving average is $64.00 and its 200-day simple moving average is $69.14. Onsemi has a 1 year low of $53.10 and a 1 year high of $85.16.

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. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. Analysts forecast that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by corporate insiders.

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.