1832 Asset Management L.P. Buys 574,900 Shares of Onsemi (NASDAQ:ON)

1832 Asset Management L.P. raised its stake in Onsemi (NASDAQ:ON) by 66.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,440,450 shares of the semiconductor company’s stock after buying an additional 574,900 shares during the period. 1832 Asset Management L.P. owned 0.33% of Onsemi worth $98,743,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. raised its holdings in Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 550 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi during the first quarter worth $45,000. Massmutual Trust Co. FSB ADV grew its stake in shares of 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 purchasing an additional 169 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Onsemi in the second quarter valued at $43,000. Finally, Oakworth Capital Inc. bought a new position in Onsemi during the 2nd quarter worth $53,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ON. Rosenblatt Securities increased their price target on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $92.00 target price on shares of Onsemi in a research report on Thursday, June 13th. Roth Mkm boosted their price target on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Benchmark increased their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Susquehanna upped their price target on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.61.

Onsemi Stock Down 5.2 %

Onsemi stock opened at $69.57 on Monday. The firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.66. The firm’s fifty day moving average price is $72.85 and its two-hundred day moving average price is $72.14. Onsemi has a 1-year low of $59.34 and a 1-year high of $95.67. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 EPS. On average, equities research analysts predict that Onsemi will post 4.01 earnings per share for the current fiscal year.

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.