Vanguard Group Inc. Raises Position in Onsemi (NASDAQ:ON)

Vanguard Group Inc. lifted its stake in shares of Onsemi (NASDAQ:ON) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,341,366 shares of the semiconductor company’s stock after purchasing an additional 321,682 shares during the period. Vanguard Group Inc. owned 11.69% of Onsemi worth $4,205,014,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Provence Wealth Management Group purchased a new position in Onsemi in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Onsemi in the 4th quarter valued at approximately $32,000. Private Wealth Management Group LLC purchased a new position in Onsemi in the 4th quarter valued at approximately $33,000. MeadowBrook Investment Advisors LLC purchased a new position in Onsemi in the 4th quarter valued at approximately $33,000. Finally, Hanseatic Management Services Inc. bought a new position in Onsemi in the 3rd quarter valued at $38,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following 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. Corporate insiders own 0.31% of the company’s stock.

Onsemi Price Performance

ON stock opened at $70.73 on Tuesday. The firm’s 50-day moving average price is $70.46 and its two-hundred day moving average price is $74.79. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The stock has a market capitalization of $30.43 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 3.28 and a beta of 1.71. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on ON shares. Evercore ISI started coverage on shares of Onsemi in a report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price target for the company. KeyCorp cut their price target on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company cut their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Finally, Susquehanna cut their price target on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.28.

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.