Onsemi Target of Unusually High Options Trading (NASDAQ:ON)

Onsemi (NASDAQ:ON) was the recipient of unusually large options trading on Tuesday. Stock traders bought 27,085 call options on the stock. This is an increase of 76% compared to the typical volume of 15,403 call options.

Insider Transactions at Onsemi

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

Institutional Investors Weigh In On Onsemi

A number of large investors have recently made changes to their positions in the stock. Integrated Advisors Network LLC grew its position in Onsemi by 1.7% in the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after acquiring an additional 164 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares during the period. Perigon Wealth Management LLC grew its position in Onsemi by 7.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after acquiring an additional 177 shares during the period. STF Management LP grew its position in Onsemi by 2.5% in the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after acquiring an additional 178 shares during the period. Finally, Covestor Ltd grew its position in Onsemi by 24.5% in the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 190 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ON. Wells Fargo & Company dropped their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Stifel Nicolaus dropped their price target on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Evercore ISI began coverage on Onsemi in a research note on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price target on the stock. Susquehanna dropped their price target on Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group began coverage on Onsemi in a research note on Monday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.28.

Onsemi Price Performance

Shares of Onsemi stock opened at $72.92 on Wednesday. The business has a 50 day simple moving average of $71.30 and a two-hundred day simple moving average of $74.11. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The stock has a market capitalization of $31.37 billion, a P/E ratio of 14.88, a PEG ratio of 3.12 and a beta of 1.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results 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. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. As a group, analysts predict that Onsemi will post 3.83 EPS for the current fiscal 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.