Onsemi (NASDAQ:ON) Short Interest Update

Onsemi (NASDAQ:ON) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 24,390,000 shares, an increase of 23.1% from the May 15th total of 19,820,000 shares. Based on an average trading volume of 6,340,000 shares, the days-to-cover ratio is presently 3.8 days.

Insider Activity

In other news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the transaction, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Provence Wealth Management Group purchased a new stake in shares of Onsemi during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at $33,000. Private Wealth Management Group LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at $33,000. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Onsemi during the third quarter valued at $38,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on ON shares. Rosenblatt Securities decreased their target price on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company decreased their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Mizuho decreased their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.28.

Onsemi Stock Down 4.1 %

NASDAQ ON opened at $71.97 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $70.42 and a two-hundred day moving average of $74.73. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 3.47 and a beta of 1.71. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. Onsemi’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share. On average, analysts predict that Onsemi will post 3.83 earnings per share for the current 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.